Taxes

Recent

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 ...
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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 ...
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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 ...
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ALL TAXES REPORTS

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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With Rainy Day Fund Filling Up Fast, It’s Time to Invest in Community Needs

The state’s rainy day fund is fast approaching its capped “allowable balance.” It could exceed the cap at the end of Fiscal Year 2024. With ...
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Preventing High-Income Tax Avoidance to Protect Education and Transportation

Problems with potential high-income tax avoidance can be solved by following many other states that require that taxpayers file their state income taxes with the ...
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Memo to Governor Healey on Ways to Ensure Effective Implementation of the Fair Share Amendment

As Massachusetts voters have amended the state constitution to include a 4 percent surtax on taxable income over $1 million, MassBudget would like to offer ...
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