Taxes
Recent
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
Read More →
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
Read More →
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
Read More →
ALL TAXES REPORTS
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
Read More →
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
Read More →
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
Read More →
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
Read More →
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
Read More →
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
Read More →
How Much Would Each District Benefit from the House and Senate Child & Family Tax Credit Proposals?
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
Read More →
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
Read More →
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
Read More →
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
Read More →
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.
Read More →
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
Read More →
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.
Read More →
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
Read More →
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
Read More →
