Taxes
Recent
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 ...
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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 ...
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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 ...
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ALL TAXES REPORTS
How is COVID-19 affecting the state budget?
Learn about how the pandemic is impacting the state budget process, essential programs, and how the Commonwealth can prepare for the road to recovery amid ...
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Blog: 7 questions you have on the state budget and COVID-19, but were afraid to ask
How has the crisis affected the state budget and what does this mean? MassBudget has compiled the answers to some commonly asked questions and we ...
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That’s A Relief Part I: Federal Fiscal Relief to Massachusetts in Recently-Passed Legislation
Learn what federal relief though the CARES Act, the Coronavirus Relief Fund, and other recently passed legislation means for the Commonwealth during the public health ...
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Responding to the COVID-19 Crisis: Filling Gaps in Federal Cash Support for Individuals and Families
Congress enacted billions of dollars in new direct cash assistance to individuals and families during the crisis, but there's still work to be done to ...
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Testimony to the Economic Roundtable: We must ensure collective well-being and economic security in the Commonwealth
Read the full testimony from our President, Marie-Frances Rivera, for the Massachusetts Legislature's April Virtual Economic Roundtable, originally scheduled for April 7, 2020.
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Amid plummeting state tax collections, the Commonwealth has options
It’s a sudden economic freefall like no other. By some estimates, Massachusetts will have 473,000 COVID-induced job layoffs and furloughs by summer. Most people with ...
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It’s Raining: An FAQ on Using Our State Savings Account to Respond to the COVID-19 Crisis
What is the Rainy Day Fund? The Stabilization Fund — often referred to as the “Rainy Day Fund”– is a cushion for times when state ...
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How Should Mass. Respond to the COVID-19 Crisis?
We Must Provide Robust Economic Relief and Recovery for Vulnerable Populations and Children in Massachusetts Policy is the lever that we can pull to bring ...
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Driver’s licenses for immigrants without status – how would it affect Massachusetts?
This series of briefs examines the potential effects of licensing undocumented drivers in Massachusetts. The briefs look at the effects on public safety, child health, ...
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MA Property Taxes: Who Pays? Recommendations for More Progressive Policies
Cities and towns rely on property taxes as their chief source of revenue to provide vital public services and infrastructure. Low- and moderate-income households tend ...
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Taxing the GILTI: By Reversing 2018 Policy, MA Can Fight Corporate Tax Dodging & Raise $450 Million a Year [Corp. Tax Series Pt.5]
In a costly decision, the Massachusetts Legislature voted in 2018 to allow businesses to exclude 95 percent of GILTI from Massachusetts taxation. This choice will ...
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The Gas Tax: What it is and Who Pays
This two-page fact sheet explains the gas tax and why it tends to fall hardest on those with low and moderate incomes.
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FY 2021 BUDGET PREVIEW: Revenue Expectations for the FY 2021 State Budget
With a new commitment to increasing state K-12 education funding and the ever more obvious need to repair and upgrade our transportation systems, will lawmakers ...
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FY 2021 BUDGET PREVIEW: Will the Governor reboot his dependent deduction proposal or take a more targeted approach?
Will the Governor again propose to double the state's dependent deduction, which wasn't adopted by the Legislature, or will state lawmakers provide more targeted tax ...
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Statement Against Decoupling from IRC Provisions Governing Business Interest Expense Deductibility (163(j)) and the Taxation of GILTI
In 2017, the federal government adopted the Tax Cuts and Job Act (TCJA), giving very large tax cuts to corporations. Nationwide, businesses had their annual ...
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