N.J. lawsuit challenging cap on deducting property taxes fails in federal court

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Congress had every right to cap the federal deduction for state and local taxes, a unanimous federal appeals court said as it rejected a lawsuit brought by New Jersey and three other states. In fact, federal lawmakers had done that in 1986 when they eliminated the deduction for state and local sales taxes as part of the tax overhaul, the 2nd Circuit U.S. Court of Appeals said last week in upholding a lower court decision. This time, then-President Donald Trump and congressional Republicans capped the deduction at $10,000 in their 2017 tax law, disproportionately targeting New Jersey and other …

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