From the Star Ledger:
If you saw your taxes go up under the Republican tax law that limited your property tax break, you weren’t alone.
In fact, 411,809 New Jersey households saw their taxes rise, the fifth highest number of any state, according to a report by the Center for American Progress, a progressive research group founded by John Podesta, who later chaired Hillary Clinton’s 2016 presidential campaign.
Only California, New York, Texas and Florida saw a greater number of households paying more in taxes, according to the report, based on data from the Institute on Taxation and Economic Policy.
Far more New Jerseyans — 3.5 million — saw their taxes reduced. But Seth Hanlon, a senior fellow with the center, said a law that increased the federal deficit by $1.9 trillion over 10 years shouldn’t have raised anybody’s taxes. Nationally, 10 million Americans got a tax hike.
“What really rubs people the wrong way is there are 10 million people getting a tax increase when the very wealthy and corporate America are getting an enormous windfall,” Hanlon said. “If you were going to design a tax cut that would increase the deficit by almost $2 trillion, it’s easy to design a tax cut that would go to middle class people where no one comes out worse off.”
California, New York and New Jersey were among the states disproportionately affected by the legislation’s $10,000 cap on the federal deduction for state and local taxes. New Jersey and New York also send billions of dollars more to Washington than they receive in services.