Taxes
Recent
Presentation: A $20 Minimum Wage – Lessons Learned and Anticipated Impact
On April 23, 2024, Interim President Phineas Baxandall gave a legislative briefing examining the potential impacts of increasing the state minimum wage to $20 per ...
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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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Presentation: Ending the Tax Penalty Against Working Immigrants
On March 14, 2024, Interim President Phineas Baxandall joined the Black and Latino Caucus and the Healthy Families Tax Credits Coalition at the Statehouse for ...
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ALL TAXES REPORTS
State-Level Child Tax Credits are Having a Moment in the Sun: Will Massachusetts Families be Left in the Dark?
The Massachusetts legislature is considering creating the Child and Family Tax Credit (CFTC), a refundable tax credit for families with children and adult dependents. It ...
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UPDATED: High-Income Households Are Not Fleeing Massachusetts
Massachusetts has a lower rate of outmigration among high-income households than among other households. This is true both in the most recent year for which ...
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Debunking the Five Major Myths About Outmigration
Recently, multiple news articles, op-eds, and think tank reports have asserted that Massachusetts is suffering an exodus of households, particularly high-income households, fleeing to states ...
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How Will We Spend Fair Share Dollars? Competing Proposals Highlight Needs and Opportunities
Fiscal Year 2024, which starts in July 2023, is the first state budget to include Fair Share dollars, and the Governor's, House, and Senate budget ...
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Estate Tax Cuts Worsen Our Large Racial Wealth Gap
If lawmakers cut the Massachusetts estate tax, it is a small number of high-income, white households that will receive the overwhelming share of the benefits. ...
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Estate Tax Cut Proposals Are Costly and Poorly Targeted – Alternative Solutions Exist
Current estate tax proposals would lead to a loss of state revenue and reduce the Commonwealth’s ability to make crucial investments, while having regressive impacts ...
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What’s Race Got to Do With It? Some Tax Proposals Would Widen Racial Inequality, Others Would Advance Equity
Some of the tax cuts proposed by the Massachusetts House in 2023 would widen economic and racial disparities by disproportionately benefiting wealthier, generally whiter households. ...
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Comparing Tax Cut Proposals from 2022 to 2023
Massachusetts lawmakers have proposed tax policy changes in 2022 and 2023 that would reduce public revenue by large amounts—providing the most benefits to the most ...
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How Other States Prevent the Costly Tax Loophole in the Millionaire’s Tax
The newly passed surtax on annual incomes over $1 million brings a new opportunity for high-income residents to exploit a tax loophole. Policies in other ...
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Statement on the House Tax Reform Bill
Meaningful credits for working families mixed with benefits solely for the wealthy - MassBudget reacts to House of Representatives' recently released tax proposal.
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High-Income Households Are Not Fleeing Massachusetts
Internal Revenue Service (IRS) data show that Massachusetts has low rates of out-migration among high-income households compared to other states. As a consequence, delivering large ...
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Testimony to the Joint Committee on Revenue on the Governor’s Tax Proposals
Testimony presented to the Joint Committee on Revenue on March 28, 2023, regarding Governor Healey's tax proposals.
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Taking Measure of the Governor’s Tax Plan
The Governor’s proposal would provide benefits to households across the income spectrum, but by far the largest benefits would accrue to a small number of ...
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Governor’s Estate Tax Plan Is Costly and Gives Biggest Breaks to Largest Estates – Better Options Exist
During the current legislative session, lawmakers will consider a number of proposals for changing the Massachusetts estate tax. Two proposals are compared here – one ...
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WBUR: Breaking down Gov. Healey’s tax reform proposal
MassBudget President Marie-Frances Rivera joined Radio Boston and Evan Horowitz, executive director at the Center for State Policy Analysis, to discuss Governor Healey's tax proposals ...
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