Ivanka Trump, Treasury Secretary Steven Mnuchin Discuss Tax Cut Bill In New Jersey

BERKELEY TOWNSHIP, N.J. (CBSNewYork/AP) — Protesters made themselves heard Monday, before a discussion of the Republican tax plan in New Jersey.

Ivanka Trump and Treasury Secretary Steven Mnuchin were set to discuss the tax reform plan, when Jason Ireland of Brick, was denied entry and asked loudly why Democrats were blocked from attending the event.

Mnuchin and Trump joined Republican Rep. Tom MacArthur and Gov. Chris Christie at the invitation-only event at the Bayville Fire Hall in Ocean County on Monday. Trump has been promoting the plan at appearances throughout the country.

During the event, Trump said Republican tax overhaul plans and deregulation would likely spur economic growth of up to 5 percent.

“Three decades ago the majority of families were not dual income, the majority of families were not dual income when they had young children at home so the world looks very different today and we need a tax code that reflects the modern reality and we believe this accomplishes that,” Trump said.

Proposals in Congress pose problems for New Jersey residents.

The House bill allows homeowners to deduct up to $10,000 in property taxes while the Senate proposal unveiled by GOP leaders last week eliminates the entire deduction.

Governor-elect Phil Murphy said the bill is simply bad for the Garden State.

“It’s a devastating blow,” he said Monday afternoon. “It’s a tax cut for the very wealthy and for big corporations. Middle class and seniors will pay a huge price.”

Fellow Democrats say they plan to do their own campaigning against the bill.

“While Republicans are busy begging their donors to stay in the fold, until they get their tax cuts, Democrats are going on offense and talking to the middle class about how bad this bill would be for them,” Senate Minority Leader Chuck Schumer said.

Both the House and Senate versions of the legislation would eliminate deductions for state and local income taxes and sales taxes paid.

The bill will be voted on first in the House, and later in the Senate. The GOP would like it on the president’s desk by Christmas for a signature.

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS New York

CELEBRATING 50 YEARS
Get Our Morning Briefs
Bloomberg WCBS Tri-State Business Index

Watch & Listen LIVE