U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), a member of the House Ways and Means and Budget Committees, today issued the following reaction to reports stating that Ways and Means Chairman Dave Camp is considering eliminating the federal tax deduction for state and local taxes:
"As the co-Chair of Ways and Means' Bipartisan Tax Reform Working Group on Real Estate, I read with great alarm that Chairman Camp is considering eliminating the deduction for state and local taxes. Bergen and Passaic counties in my district pay some of the highest property taxes in the country, and across the entire state, that burden has risen by almost 20% since 2009. Lawrence, New Jersey, which Chairman Camp visited in July to push his reform effort, has seen the average property tax bill rise by over $1,000 in that time. These are the communities that would be hurt by the repeal of one of the most important provisions of our federal tax code which ensures that the basic unfairness of double taxation doesn't hit American taxpayers. The Chairman should listen to the concerns of Members from both parties whose constituents would be subject to a huge tax increase if this important deduction is repealed."