Taxes

Recent

Raising Rates on Unearned Income: An Equitable Way to Avoid Cuts and Support a Robust and Just Recovery

For each one percentage point increase in the state tax rates applied to unearned income, the Commonwealth could raise roughly $465 million a year to …

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FY 2021 Budget & Tax Options

Two weeks ago, the Executive Office of Administration and Finance (ANF) provided updated revenue projections for the current fiscal year (FY21). ANF now estimates an …

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Testimony for the House and Senate Ways and Means Committees, the Joint Committee on Revenue, and the Executive Office of Administration and Finance Economic Roundtable

We’re clearly in a budget crisis. Which is extremely troubling at this time, when we need real, comprehensive relief for families and individuals — so many of our neighbors, young and old, are struggling with accessing basic necessities and keeping healthy and well.

Our Commonwealth’s budget – how we raise revenue through taxes and fees, and how we spend that revenue – is the clearest picture of our shared values. Considering the revenue side picture is crucial, but the other side of the ledger is just, if not more important.

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ALL TAXES REPORTS

Credit Where Credit is Due: The EITC and CTC – two proven tools to keep low-paid workers out of poverty

One of the most successful ways to lift people out of poverty is through tax credits targeted to low- and moderate-income families. Families use these credits to reduce their income taxes or receive a refund check. The Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) are two widely successful tax credit programs for improving family economic security and well-being — combined, the credits lift more people out of poverty than any other federal program except Social Security. Nonetheless, there are opportunities to make these programs even better.

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The Pros and Cons of Higher Gas Taxes, and How They Could be Offset for Lower-Income Families

As the Commonwealth seeks to improve our aging transportation system, policy makers have considered raising the gas tax. This paper assesses the gas tax along several well-established criteria for evaluating taxes: efficiency, fairness, and reliability. Based on these criteria, the gas tax receives mixed grades. Offsetting the tax with low-income tax credits could help.

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Infographic: Celebrating Latinx Heritage Month

In honor of National Hispanic Heritage Month, also known as #LatinxHeritageMonth (running Sept. 15-Oct. 15), our infographics analyze the number of eligible Hispanic tax filers per county that could or already benefitting from the Earned Income Tax Credit (EITC).

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Corporate Minimum Taxes in Massachusetts Could Be Better Targeted as in Other States [Corp. Tax Series Pt. 3]

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How Do Business Taxes in MA Compare to Other States? [Corp. Tax Series Pt. 1]

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Single Sales Factor: a Tax Break with a Poor Record of Performance [Corp. Tax Series Pt. 2]

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Infographics: Labor Day on EITC and CITC

Infographics showing who would benefit from the expansion of the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) here in Massachusetts.

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Testimony to the Joint Committee on Revenue on the EITC

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Testimony to the Joint Committee on Revenue on the Single Sales Factor Apportionment Formula, How It Works, and What It Costs

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Testimony to the Joint Committee on Revenue on the Incidence of State and Local Taxes in Massachusetts and Effects of the Fair Share Amendment

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Income Tax Cuts Cost Massachusetts Over $4 Billion Annually, and Benefits Mostly Go to Highest Incomes

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Why Highest Incomes in Massachusetts Receive Most Tax Benefits from Charitable Deduction

Even considering how higher-income households have more money to give away, the tax benefits of charitable tax deductions are heavily skewed toward the top.

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14 Options for Raising Progressive Revenue

How to collect enough revenue to pay for the things we accomplish together as a Commonwealth and how to collect that revenue fairly are questions that every community and every state need to examine. This paper describes 14 ways the Commonwealth could generate substantial new revenue in a manner that makes our tax system more progressive and would not require changing the state constitution.

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MA Taxes on Par with U.S. Average in FY 2016

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How Has the Level of Taxes in Massachusetts Changed Compared to Other States?

   

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