Commerce and industry Association of New Jersey

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A Repair New Jersey Home Owners Can’t Afford
June 8th, 2017

 

Approximately sixty percent of Americans cannot afford an emergency expense of $500. Americans who earn more than $75,000 per year – about a third more than the typical U.S. household makes slightly more than the median household income in New Jersey – said that, despite more savings on hand, almost half wouldn’t be able to cover a $500 expense.

For many, a broken window or water heater are too great an expense to afford, and they must make cut backs in their daily life or plunge further into credit-card debt. Deductions for home repairs will go a long way to assist the middle-class with taking care of an unexpected expense that can put mental, emotional, and physical stress on trying to make ends meet. Moreover, the bill clearly defines what the deductions are to ensure the resident’s property taxes aren’t raised on the assumption that the repair was an improvement.

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  • About Us

    The mission of Commerce and Industry Association is to be the leader in free enterprise advocacy for the purpose of fostering, through education, legislative vigilance and membership interaction, an economic climate that enhances business potential and makes New Jersey a better state in which to live, work and conduct business.

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