This Facts At A Glance explains the basic structure of the state’s Chapter 70 formula for distributing education aid to local school districts.
This fall, Congress will debate whether to extend tax cuts adopted over the past decade. While there appears to be general agreement among policymakers that the major middle-class tax cuts should be extended — and significant debate about whether the tax cuts that benefit only the highest-income taxpayers ought to continue — there has been less attention paid to the fate of tax provisions that are targeted at lower-income working families.
This primer provides an overview of the Commonwealth’s tax system as well as clear information and analysis of how Massachusetts compares to other states and how our state’s tax system has changed over time. Also please see individual fact sheets on the income tax, the sales tax, tax fairness, and on the “Taxachusetts” label.
Expiring Federal Tax Cuts: Costs and Beneficiaries of Extending Cuts Targeted at Highest-Income Taxpayers
In the coming weeks, the U.S. House and Senate may debate whether to extend (or make permanent) all or only some of the Bush-era income tax cuts. The Congressional debate most likely will focus on whether to extend the tax cuts that affect only the wealthiest 2 percent of Americans–those households with adjusted gross income (AGI) above $200,000 for single filers and $250,000 for married couples.
Today, the U.S. Census Bureau released its annual update of state-level poverty rates from the American Community Survey (ACS). It indicates no statistically significant change in the overall poverty rate in Massachusetts from 2008 to 2009.
Today, the U.S. Census Bureau released its annual update of state-level data on household income from the American Community Survey (ACS).
Health insurance coverage in Massachusetts far surpasses coverage nationally and in all other states, detailed statistics released by the Census Bureau today confirm.
Thanks to the apparent success of Massachusetts’ health reform, Census Bureau estimates released today suggest that Massachusetts health care coverage still leads the nation.
As a result of the Great Recession, the year 2009 saw a significant increase in the national poverty rate. The poverty rate rose to 14.3 percent in 2009 from 13.2 percent in 2008, new Census Bureau data show.
As part of a package of sales tax changes that went into effect in 2009, Massachusetts’ general sales tax rate was raised from 5 percent to 6.25 percent and alcoholic beverages were made newly subject to the general sales tax.