MacArthur To Bring Mnuchin, Ivanka To Bayville To Talk Tax Reform

BAYVILLE, NJ — What do you think about the current tax reform efforts?

Come to the Bayville Fire House on Route 9 at 10:30 a.m. on Monday and tell House Rep. Thomas MacArthur, Treasury Secretary Steven Mnuchin and presidential adviser Ivanka Trump what you think about efforts to overhaul America's tax code for the first time in 31 years.

The firehouse is located at 645 Route 9.

There are two versions of tax reform — one in the House and one in the Senate.

Of particular interest to New Jersey residents is the possible loss of state and local tax deductions. The House version would keep the property tax deduction up to $10,000 a year. Mortgage interest deductions on loans up to $500,000 on primary homes would be allowed, according to a New York Times analysis.

The Senate version would eliminate state, local and property tax deductions. The mortgage interest deduction would remain.

To read the entire Times analysis, click here.

Tom MacArthur speaks at a town hall meeting in Waretown in early 2017. Photo by Karen Wall, Patch staff