House and Senate conferees have released a compromise tax bill that includes an impactful combination of tax cuts to help people and employers in Massachusetts. The $951 million package includes a total of 17 different tax relief provisions, each of which targets issues of cost and competitiveness…

Six months after Governor Healey filed her administration’s original tax relief bill and one month after a Fiscal Year (FY) 2024 budget that reflects the cost of a tax relief package was signed into law, House and Senate conferees have yet to produce their version of a final tax package. MTF has…

The Massachusetts Taxpayers Foundation is warning that any change to the tax code would be premature, considering the surtax hasn’t been in effect for a full year. “If we want to have a discussion about how to implement the surtax in a way that’s going to have the least negative economic impact on…

According to the foundation, though, Healey should also consider changes that will encourage higher income workers to stay in and around Boston’s tech hub. “Crafting a package that takes on key costs for historically marginalized communities and working families, while reducing incentives for…

Tax policy is at the forefront of the legislative and fiscal agenda in 2023 as the state implements the income surtax, reassesses a tax package that garnered bipartisan support last year, and welcomes a new gubernatorial administration that has made tax relief a major policy priority. After…

Massachusetts Taxpayers Foundation President Doug Howgate said his preference would be for the Legislature to focus more on tax relief than altering Chapter 62F, although he also said MTF was “happy to look” at proposals for alteration. “The premise that when tax revenues exceed a reasonable…

Chapter 62F of the Massachusetts General Laws establishes a limit on annual state tax revenue collections. The law, passed by an initiative petition in 1986, created a process by which actual tax collections are compared to an allowable tax revenue threshold, adjusted annually on the basis of wage…

During discussion on how to best use those incoming funds on Tuesday, Massachusetts Taxpayers Foundation President Doug Howgate advocated for splitting the revenues 50/50, "half for transportation, half for education." Lawmakers have not committed to how they will divide the money between education…

The state’s 4 percent surtax on income over $1 million is now in effect.  The new tax raises critical policy questions related to its effect on long-term economic growth and its impact on other areas of the tax code.  At the same time, the surtax creates a number of fiscal and tax policy…

Doug Howgate, the president of the Massachusetts Taxpayers Foundation, says the law mentions only two pots for the money to go in. “The most straightforward way to do that is to distribute it 50-50,” he said.