BLOOMFIELD, NJ – Today, U.S. Senators Cory Booker and Bob Menendez stood with New Jersey homeowners and local advocates to discuss the detrimental impact of Trump’s tax plan on New Jersey families. The Republican plan unveiled this week, which eliminates middle class tax breaks for homeowners and the state sales and income tax deductions, represents a huge tax break for the wealthy on the backs of high-tax states like New Jersey.

“This tax bill is designed to hurt hardworking New Jerseyans in a state that is already hurting with taxes,” Booker said today in Bloomfield.  “This tax bill amounts to us paying even more to the federal government when we already pay our fair share, if not more when compared to other states. This is one of the greatest insults in legislation I have seen in my entire life.”

VIDEO OF SEN. BOOKER’S REMARKS AVAILABLE HERE

The Republican plan repeals commonsense provisions like the Alternative Minimum Tax and the estate tax—which only applies to the top 0.2 percent wealthiest estates—that ensure the top 1% pay their fair share. Meanwhile, middle-class families get scraps. What’s more, families in high-cost states like New Jersey are being forced to pay the bill, as millions will lose critical middle class benefits like the state and local income tax deduction.

Yesterday, Sen. Booker penned an op-ed in the Star Ledger highlighting the negative impact of the Republican tax plan on New Jersey families.

“You don't need to be a tax accountant to understand that eliminating a tax break like this would place a heavy burden on New Jersey families,” Sen. Booker wrote.  “And for what? A massive wealth transfer from you to people across the country already at the very top.”

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