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MassBudget’s Look at the Fiscal Year 2025 House Ways and Means Budget Proposal
The House Ways and Means (HWM) Committee released its proposed budget for the Fiscal Year (FY) 2025. The proposal reflects both an increase in anticipated ...
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Presentation: K-12 Funding Update for the Legislative Gateway Caucus
On March 27, 2024, Deputy Policy Director Colin Jones presented to the Legislative Gateway Caucus. He provided a briefing on K-12 funding and policy, including ...
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How Do Business Taxes in MA Compare to Other States?
MassBudget analyzed a recent data report by The Council on State Taxation (COST) - a Washington DC based trade association representing over 500 multistate and ...
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The Fair Share Millionaire Tax and Home Sales: What 2021 Data Shows
Based on industry data from the Warren Group on home sales in Massachusetts, previous analysis has shown how rare it is that a sale might ...
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The Myth of the One-Year Middle Class Millionaire
“One-time” occurrences of $1 million income are relatively rare overall, and in fact much rarer for the middle-class. It is far more common for tax ...
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Very Few Small Businesses Sell for More Than $1 Million; Even Fewer Would be Subject to Fair Share
Will small business owners be subject to the proposed Fair Share tax if and when they sell their businesses? Very unlikely.
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Even Among Retirees with High Wealth, Few Will Pay the Fair Share Tax
The proposed “millionaire tax” only applies to the portion of a taxpayer’s annual taxable income over $1 million. For many retirees, much of their income ...
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Fundamentally Flawed: 62F Formula Overstates “Excess” by $1.4 Billion
The $2.9 billion estimate of 62F "excess tax collections" recently certified by the State Auditor overstates these net Fiscal Year (FY) 2022 collections by $1.4 ...
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Where Might Home Sales Be Subject to the Fair Share Amendment? A Local Breakdown
In the majority of Massachusetts cities and towns, no homes sold for a net gain of $1 million or more, meaning they wouldn't be subject ...
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62F Credits Benefit the Rich
The “tax cap law,” or what is known as “62F,” sets an artificial limit on how much tax revenue Massachusetts can collect, regardless of the ...
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Interactive Map: Most Home Sales Will Not Likely Lead to Fair Share Tax Payments
Even in Massachusetts’ hot housing market with many homes selling for over $1 million, the vast majority of all home sales will not subject the ...
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Best Research Underscores Value of Fair Share Amendment for Massachusetts Residents
An extensive body of research shows that Fair Share would improve tax fairness, support economic and racial justice, and strengthen our state economy. The research ...
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A Bridge Too Far: Sagging Investment Leaves 644 Massachusetts Bridges Structurally Deficient
The Massachusetts Department of Transportation maintains a database tracking 7,880 bridges across the Commonwealth. This paper examines the condition of these bridges and the impact ...
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A Look at Funding: The Emergency Rental Assistance Program in Massachusetts
The Emergency Rental Assistance Program is not the only way to ensure adequate rental assistance support in the Commonwealth, other ARPA funding or state dollars ...
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Fair Share Tax on Incomes Over $1 Million Would Generate at Least $2 Billion a Year
MassBudget estimates that the Fair Share tax on incomes over $1 million is likely to generate at least $2 billion a year in new revenue ...
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Average Income in Massachusetts for Every Occupation Is Below $1 Million
According to the most current federal Bureau of Labor Statistics (BLS) data for Massachusetts (2021), average income for every occupation listed falls far below the ...
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A More Generous Compromise: The Legislature’s Fiscal Year 2023 Budget Proposal
The Legislature’s Fiscal Year (FY) 2023 budget released earlier this week by the Conference Committee differs dramatically from both the House and Senate proposals in ...
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Prospects for Investment, Stability, and Growth in Early Education in Massachusetts
As the challenges of the COVID pandemic continue to reverberate across the state, early education and care (EEC) providers persevere every day. Early care centers ...
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