By Donald Gilpin
Princeton Mayor Liz Lempert is taking a close look at a plan to counteract the loss of state and local tax deductions due to the tax bill passed by Congress last month.
Congressman Josh Gottheimer (D-5) and new Governor Phil Murphy have offered a tax cut plan for New Jersey that has the potential to restore the value of state and local tax (SALT) deductions by providing a tax credit for taxpayers who make charitable contributions to their state or local governments. Congressman Bill Pascrell (D-9) and the mayors of Fair Lawn, Paramus, and Park Ridge have also expressed support for the plan and the desire to implement it, with state support, in their communities. more