The Healey administration’s first budget proposes important investments to improve the lives of our residents and diminish the racial and economic disparities that hold us back. It creates strong structures to implement the Fair Share Amendment that build in accountability and respect the will of the voters. The initial investments from the surtax are down payments on a better education and transportation future.
Fair Share-funded commitments – like expanded access to early education, free community college, fixing the MBTA, reducing climate emissions, and building rapid rail across the state – will require ongoing resources. These investments will make our Commonwealth more equitable, more affordable, and certainly more competitive.
Permanent tax cuts reduce our ability to make vital investments. Therefore, cuts must be well targeted and focused on our neighbors who need help most. Fortunately, the Governor’s proposed $600 Child and Family Tax Credit passes that test by supporting all families caring for kids or dependent adults, making Massachusetts a better place to live. On the other hand, the proposed permanent six-figure tax cuts for the wealthy fail this test. Tax cuts for the wealthy are not effective economic development policy, are inconsistent with voter’s intent in passing the Fair Share Amendment, and weaken our ability to achieve the dreams otherwise strived for by this budget.
MassBudget will update our Budget Browser in the coming days to include numbers from the Governor’s budget proposal for all spending items. The Browser allows the user to see the effect of anticipated inflation on each item. This is important because any spending item that does not keep up with inflation is effectively a cut in support.
