On March 30th, the Special Joint Committee on Initiative Petitions heard testimony on H.5006 An Act Relative to Limiting State Tax Collection Growth and Returning Surpluses to Taxpayers. MTF was asked to provide expert testimony on the proposal,...

On March 30th, the Special Joint Committee on Initiative Petitions heard testimony on H.5007 An Act to Reduce the State Personal Income Tax Rate from 5% to 4%. MTF was asked to provide expert testimony on the proposal, which would reduce state tax...

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...

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...

The House and Senate have both unanimously passed major tax relief legislation in the last two months and a Conference Committee has been appointed to resolve differences. While both bills share many major elements, the bills differ in scope,...

Today, the Senate Committee on Ways and Means (SWM) released its tax relief proposal. The plan, which mirrors the tax bill passed by the Senate in 2022, includes seven major tax relief provisions and carries an estimated Fiscal Year (FY) 2024 cost of...

Today, the House Committee on Ways and Means released their tax relief proposal. The plan includes 7 major provisions and carries a fiscal impact of $654 million in FY 2024. When fully-phased in after 3 years, the annualized cost of the proposal is ...

Today, Governor Healey announced the details of a tax relief proposal that she plans to file in conjunction with her Fiscal Year (FY) 2024 budget proposal on March 1st. The tax package, which has an FY 2024 budget impact of $742 million and an...

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...

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...