Taxes
ALL TAXES REPORTS
Ending the Tax Penalty Against Working Immigrants
Extending EITC eligibility to all workers filing taxes, regardless of their immigration status, would increase its impact, help expand economic opportunity, and support low- and moderate-income families struggling to afford Massachusetts’ high cost of living.
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How Much Does the Millionaire Tax Improve Tax Fairness? How Does Massachusetts Compare Now to Other States?
A new 50-state analysis from the Institute on Taxation and Economic Policy (ITEP) finds that Massachusetts’ recently adopted millionaire tax makes Massachusetts’ state and local tax system much more equitable.
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Rising Profits, Falling Tax Shares: Fixing What’s Broken
The share of state taxes paid by corporations has fallen markedly since the 1980s. Meanwhile, they've collected a growing share of all income generated in the U.S. Changes to corporate tax policy can improve fairness, racial equity, and state competitiveness.
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Testimony in Support of H2762/S1793 and S1798 on Improving Tax Credits
MassBudget's written testimony in support of H2762/S1793, An Act to increase family stabilization through the earned income tax credit as well as S1798, An Act to reduce poverty by expanding the EITC and the child and family tax credit.
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How Much Will Each District Benefit from the New Child & Dependent Tax Credit?
The proposed Child and Family Tax Credit would help families by providing a refundable credit each year for each child under 13 and dependent adults over 65 years of age or with disabilities. This dashboard identifies – by legislative district - how many dependents would be eligible.
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Who Benefits from the New Tax Package?
The new tax package is the largest set of tax changes the Commonwealth has seen in some 15 years and will cost the Commonwealth over $1 billion each year in forgone tax collections. It includes some elements that improve tax fairness, and racial and economic equity, as well as other elements that make our state tax system less fair.
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Fair Share Advances Racial Equity Through New Budget Investments
The first year of investments made with Fair Share dollars demonstrate how the new surtax creates opportunities to mitigate the ongoing harms of structural racism while improving the Commonwealth as a whole.
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MassBudget Statement on the 2023 Tax Relief Package
Today, the conference committee presented the biggest package of tax changes in 15 years. We commend them for taking important steps to improve affordability for low- and middle-income households in Massachusetts. At the same time, our state fails to move toward racial and economic equity when we give away hundreds of millions of dollars to the richest families and large, profitable corporations.
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New Census Data Highlights Need for Family Tax Credits Waiting in State House
While the Massachusetts Legislature debates two versions of expanded tax credits to improve affordability for families, new census data dramatically show what a difference these credits make to reduce poverty, especially for children.
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MassBudget testifies to end tax subsidy for private jets
MassBudget testified in support of House bill 2826 and Senate bill 1758, which would end the sales tax exemption for personal aircraft. The exemption disproportionately benefits very wealthy individuals and worsens climate change by encouraging the most fuel-intensive form of travel.
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Three Funds, One Purpose: Implementing Fair Share
The Fiscal Year 2024 budget is the first state budget to include money raised from the Fair Share Amendment, making important investments in education and transportation. Lawmakers took additional steps to create mechanisms that will facilitate transparency, stability, and protect the intent of the amendment.
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New Poll: Big Majority of Voters Support Child and Family Tax Credit that Reaches $600
Newly conducted polling shows 77% of registered Massachusetts voters support the creation of a Child and Family Tax Credit of $600. The Massachusetts legislature is currently debating two competing proposals, one of which would provide a per-dependent benefit nearly twice as large as the other.
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Your Fair Share Dollars at Work: Critical Investments and Hard Choices
The Fair Share Amendment is doing what voters wanted it to do: making new, important investments in our Commonwealth and making our tax system more equitable.
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Statement by MassBudget on the FY2024 Budget
Today the legislature passed a budget bill for Fiscal Year 2024. The $56.26 billion budget now goes to Governor Healey. Enabled by new revenue from the Fair Share Amendment that the voters passed last November, the FY2024 budget makes important investments in education and transportation.
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Final Tax Package Can Improve Tax Fairness & Help Build Toward Shared Prosperity
Currently, a conference committee is working on a compromise tax package between the House's and Senate's proposals. The fairest tax package would be one that delivers its benefits overwhelmingly to low- and middle-income households and which greatly limits tax cuts for very high-income and wealthy households.
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