Here's how Trump law limiting your property tax break hurt Jersey's middle class [View all]

WASHINGTON -- When pushing for limiting how much you can deduct for state and local taxes on your federal income taxes, Republican lawmakers argued that such breaks were unfair because they subsidized the super rich -- especially in states like New Jersey.

But new statistics show the impact of the tax law signed by President Donald Trump hits far more New Jerseyans who make far less.

Most New Jersey households affected by the Republicans' $10,000 cap on the state and local tax deduction make $75,000 to $200,000 a year, new studies show.

That's 860,000 Jersey households in that income range whose average state and property tax deduction exceeded $10,000, according to Internal Revenue Service statistics.

Read more: https://www.nj.com/politics/index.ssf/2018/09/this_is_who_is_really_hurt_by_trump_tax_bills_cap.html