“Yesterday, Senate President Karen Spilka rightfully noted the need to balance “targeted spending investments to a number of crucial areas, such as housing, childcare and higher education” while responding to our state’s current revenue collections. As our analysis shows from the final Fiscal Year 2023 House budget proposal, our Legislature made a great first step in committing our public dollars to closing some equity gaps. We hope the Senate Ways and Means Committee will build on this and make the bold investments needed to further equity in Massachusetts.
“Proposed large tax breaks for the very wealthy would harm our long-term recovery at a time when we are relying on one-time federal relief funds to keep us afloat. We still need resources to make bold investments in public transportation, early education, safe and stable housing, as well as tax relief directed to those struggling to make ends meet. MassBudget stands with the calls for using targeted tax proposals to provide relief for low-to-moderate income individuals and families impacted both by the pandemic and rising costs.
“The Joint Committee on Revenue has a unique opportunity to make an equity-focused tax package happen before the end of our legislative session. As we’ve noted, providing help to those of us most in need such as our state’s lowest-income tax filers, or expanding the senior circuit breaker, can support our economic recovery. Tax cuts for the ultrarich don’t set the stage for progress, and the future of our communities relies on policymakers delivering equity to restore balance in the Commonwealth.”