IN RECENT WEEKS, leading business groups in Massachusetts have urged newly-elected Gov. Maura Healey to focus on the state’s economic competitiveness. As current or former leaders of organizations that employ thousands of people in Massachusetts, we agree that making Massachusetts more competitive must be a top priority for state leaders. However, some groups are using […]
Taxes and Budget Issues
Posted inState Government
Healey tells business group no one will compete harder
GOV. MAURA HEALEY started stumping for public support for her budget and tax proposals on Thursday, with the message tailored a bit to each of her audiences. In a speech to 800 at a morning event hosted by the Greater Boston Chamber of Commerce, Healey talked broadly about her tax and spending proposals and emphasized […]
Posted inState Government
Budget sets up ‘system’ for millionaire tax money
THE HEALEY ADMINISTRATION on Wednesday proposed a system to segregate, track, and spend the tax revenues that have started to flow into state coffers as a result of passage of the millionaire tax by voters in November. The system steers all of the money into one fund, the Education and Transportation Fund. Expenditures from the […]
Posted inState Government
Healey files a ‘unicorn’ of a state budget
GOV. MAURA HEALEY unveiled a state budget package on Wednesday that cuts taxes by nearly $1 billion, socks money away for a rainy day, and pours record amounts of funds into many key initiatives. The $55.5 billion budget proposal represents a 4.1 percent spending increase over the current year, and 14 percent higher than the […]
Posted inEconomy, State Government
Healey tax plan addresses ‘competitiveness’ issues
GOV. MAURA HEALEY is proposing a tax reform package that addresses cost-of-living concerns of parents, renters, and seniors while providing significant relief to wealthy individuals who may be turned off by the recently passed millionaire tax and the state’s tax treatment of estates and capital gains. The Democratic governor’s proposal hews closely to the playbook […]
Posted inOpinion
Nonprofits should make payments in lieu of taxes
WITH THE NEW YEAR, a new governor, and a new Legislature getting back to business, there are a lot of policy issues before them. I’d like to highlight legislation dealing with payments in lieu of taxation by organizations exempt from the property tax. The bill has been filed by Sen. Adam Gomez of Springfield and Rep. Erika […]
Posted inState Government, State House News Service
State tax revenues miss mark for first time since June 2020
STATE HOUSE NEWS SERVICE STATE REVENUE collections missed the mark by nearly 5 percent in January, with the $3.834 billion that the Department of Revenue reeled in landing $192 million, or 4.8 percent, shy of the previous January’s collections and $185 million or 4.6 percent below the monthly benchmark. It is the first time since […]
Posted inState Government
Millionaire surtax: What’s the split between education, transportation?
THE CONSTITUTIONAL AMENDMENT approved by voters in November establishes a 4 percent income tax surcharge on income over $1 million, and directs that the money should go to transportation and education. But the amendment doesn’t say how the money should be split between transportation and education. Should it be 50-50 or something else? Now that […]
Posted inState Government
Top budget officials still undecided on tax cuts
STATE REVENUES are expected to rise slightly in the coming fiscal year, but top budget officials from the Legislature and Healey administration say it’s still unclear whether there is enough money to enact permanent tax cuts. At the end of last year’s legislative session, former governor Charles Baker and Senate leaders wanted to press ahead […]
Posted inOpinion
Competitiveness is the key: Here’s what’s needed
THE TERM “COMPETITIVENESS” seems to be top of mind as the new legislative session gets underway. Leaders in business, government, labor, and others are talking about it, expressing a range of concerns such as the need for improved housing and transportation, the impact of the passage of an income surtax, the economic outlook for industries […]