With a new commitment to increasing state K-12 education funding and the ever more obvious need to repair and upgrade our transportation systems, will lawmakers have the revenue to make the necessary investments in these and other budget priorities?
This latest report analyzes how amid a decades-long decline in corporate income tax share businesses avoid $1.4B in 2019 tax, and explores policy solutions that could help restore the balance. Interested in the finding the full corporate tax series? Read our other reports on how business taxes compare to other states, on the Massachusetts corporate minimum tax, and the Single Sales Factor.
How to collect enough revenue to pay for the things we accomplish together as a Commonwealth and how to collect that revenue fairly are questions that every community and every state need to examine. This paper describes 14 ways the Commonwealth could generate substantial new revenue in a manner that makes our tax system more progressive and would not require changing the state constitution.
This policy brief examines the evidence on the likely migration effects of raising income taxes on households with taxable annual income above $1 million and the impacts on net state revenue.
The cost to the state from special business tax break spending has nearly tripled, even after adjusting for inflation, from $370 million in 1996 to over $1 billion anticipated in this fiscal year. Despite the findings of a 2012 report from a state special commission that called for limiting these breaks and studying their effectiveness, most state business tax breaks have not faced a thorough examination.
Effective economic policies can create a more highly productive state economy and make it possible to improve economic opportunity and security for working families. This paper examines the economic research on the relationship between effective investments in education and transportation and improved economic productivity. The paper also examines the economic effects of tax reforms that can fund those investments.
The EITC improves the economic security of working families by increasing the after tax incomes of low and moderate wage workers. This factsheet explains how the tax credit works, describes how many families and individuals it helps in Massachusetts, and examines recent research on the long-term effects of the EITC on families and children.