MTA leadership on proposed tax-cut plan
MTA leadership on proposed tax-cut plan
MTA president Max Page issued the following statement in response to a tax-cut package that the Legislature is expected to vote on this week:
"At a time when working families are struggling with high inflation, rising interest rates and soaring housing costs, the Legislature should focus more on making sure that the vulnerable are protected than on providing tax relief to the wealthiest residents in the state."
“At a time when working families are struggling with high inflation, rising interest rates and soaring housing costs, the Legislature should focus more on making sure that the vulnerable are protected than on providing tax relief to the wealthiest residents in the state.
“While some of the tax cuts will benefit working families, the state’s proposed cuts in short-term capital gains and estate taxes and shifting to a business-friendly ‘single sales factor’ tax formula are givebacks to the ultra-wealthy who were upset when voters decided last fall that it was time for them to start paying their fair share in taxes.
“Businesses come to Massachusetts, and remain here, because of the state’s quality of life and educated population. Research shows that state tax rates are not a deciding factor in determining where businesses locate or where people choose to live. Those profiting the most from the state’s quality of life and from the work of its residents should be expected to contribute correspondingly to the ongoing well-being of our Commonwealth.
“MTA members and their allies are proud to have been able to lessen the blow of these revenue cuts by fighting to have the Legislature close a loophole that allowed wealthy families to file as individuals for state taxes and jointly on federal taxes, allowing them to avoid paying appropriate state taxes under the Fair Share Amendment.
“The Massachusetts Teachers Association will continue to fight for fair tax policies, those that keep social safety nets intact and ensure proper, ongoing investments in the common good.”