"The president's economic agenda is all about creating growth, bringing jobs back to America and making American business competitive again", Mnuchin said.
The average residential property-tax bill in New Jersey has increased 32% during the past decade, reaching $8,200 in 2016, according to state records.
Treasury Secretary Steve Mnuchin and Ivanka Trump, advisor to the President, made a stop in Bayville to promote the tax bills that are now moving through the House and Senate. Republicans are calling for cutting corporate rates and reducing the number of brackets on income tax from seven to four.
Ivanka's personal mission is to boost the Child Tax Credit from its current $1,000, to $2,000.
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"We're moving in the right direction", she said.
The proposals in Congress pose problems for New Jersey, where property taxes are among the nation's highest. The Senate bill dumps SALT deductions entirely. Leonard Lance and Frank LoBiondo have said they don't support the legislation under consideration in the House, which would cap the property-tax deduction at $10,000 and allow no deductions for state income taxes. More than half of the people living in his district pay more than $10,000 in property taxes, he said in an interview."There's no way to cut these numbers that it's not an increase on New Jersey and a huge favor to other states at our expense".
At its conclusion the event veered off-script just a tad, when a protester, who had infiltrated the crowd, tried to ask a question.
"The middle class are gonna be hurt by this", she said.
"Well, I think they'll do the right thing". They both say they want to look at how tax credits for businesses will be handled.
Mnuchin said he hoped that House and Senate versions of the bill could pass, go through reconciliation, and be ready to be signed into law by the end of December.