Ivanka Trump Visiting Jersey Shore Monday to Push Tax Reform
BERKLEY — The pitch for the Republican tax reform plan comes to Ocean County on Monday with two members of President Donald Trump's inner circle.
Treasury Secretary Steven Mnuchin and Ivanka Trump, the president's daughter and advisor, will co-host a discussion at the Bayville Fire Hall on Route 9 starting at 10:30 a.m.. They will be joined by Rep. Tom MacArthur.
Trump appeared at a similar event in Biddeford, Maine on Friday with Sen. Susan Collins, a moderate Republican who often disagrees with the president.
The tax plan is about "supporting American families," Trump told the crowd. "The stated goal is twofold: enable our businesses to be competitive and thrive and to provide meaningful tax relief to middle income families," she said.
During an appearance on Varney & Co on Fox Business Channel after Election Day, MacArthur discussed his effort to include a deduction for property taxes.
"The vast majority of people in New Jersey will be able to deduct all of their property taxes. The (tax) rates are coming down so much that people in New Jersey will see a federal increase in our plan," MacArthur said.
When Varney challenged MacArthur about the unchanged rate for the top 1 percent in New Jersey, MacArthur said he has thoroughly reviewed the plan and determined most everyone would benefit from the reform plan.
"I've looked at every income bracket, I've looked at the effect of losing deductions plus losing the AMT, which is a good thing, and there is no income bracket in the state of New Jersey that the average person in that bracket won't go down."
According to the IRS, the AMT, also known as the Alternative Minimum Tax, "applies to taxpayers with high economic income by setting a limit on those benefits. It helps to ensure that those taxpayers pay at least a minimum amount of tax."
MacArthur said the proposal offers a "lower, simpler, fairer plan" that closes loopholes.
Democrats have pushed back against the tax plan, in part because it would eliminate deductions claimed by many taxpayers. The Senate version would repeal deductions of state and local taxes.
MacArthur is not in complete lockstep with the president on some issues. He has joined several other representatives, including Democrat Donald Norcross, to support adding questions about sexual orientation and gender identity on the 2020 US Census form.
Material from the Associated Press was used in this report