The Massachusetts Department of Transportation maintains a database tracking 7,880 bridges across the Commonwealth. This paper examines the condition of these bridges and the impact of bridge disrepair on communities. It analyzes how some regions and populations are harmed more than others, and how these problems could be helped by investing more public resources in transportation.
Explainer via Napkin Finance With Legislators debating potential changes to taxes on large estates, it’s important to remember why we have taxes on the transfer of inherited wealth in the first place: Fostering Equality of Opportunity — The estate tax is Massachusetts’ only major tax designed to reduce how much individual economic success depends on being born …
The tax on inherited estates is Massachusetts’ only tax that directly reduces wealth inequality. Although the pandemic has highlighted disparities between rich and poor families, the Governor and some in the Legislature have proposed changes to the estate tax that would largely benefit the state’s wealthiest households.
Sometimes a “surplus” is not really a surplus at all, and the term “tax surplus” can be particularly misleading. A tax surplus occurs when tax collections come in higher than the amount expected when the state created its budget at the beginning of the fiscal year. When that initial estimate turns out to be too low, there is a “surplus.” It does not mean that the state budget has already met the needs of the moment or that there is extra unneeded revenue.
The Massachusetts Budget and Policy Center was asked to outline options for changes to the estate tax that would preserve revenue, maintain progressivity, and also cut taxes on or exempt estates with a taxable value up to around $1.2 million. Since households subject to the estate tax are among the state’s wealthiest taxpayers, any reductions to revenue from the estate tax represent a transfer of wealth from the Commonwealth to its wealthiest families. Even so, some options are better than others.
This one-page summary of a longer report outlines how Massachusetts has underinvested in its transportation infrastructure, and greater investment can improve the economy, equity, and the environment.
Higher gas prices are causing anxiety for many and are eating away at the meager incomes of low- and moderate-income families. Politicians are promoting a number of ideas to provide consumers with some relief. A very popular idea—a gas tax holiday—is a bad idea.
New sustaining revenue is needed for Massachusetts’ transportation systems, and no source of new funding is better scaled to meet the size of underinvestment than the Fair Share Amendment.
To the Joint Committee on Revenue December 14, 2021 RE: Testimony in support of An Act Relevant to the Repeal of the Sales Tax Exemption for Aircraft (H.2923/S.1797). Chairman Hinds, Chairman Cusack, and distinguished members of the Joint Committee on Revenue: Thank you for the opportunity to submit testimony on behalf of the Massachusetts Budget …
Testimony to end tax subsidies for purchasing private jets and other aircraft Read More »
To the Joint Committee on Revenue December 13, 2021 RE: Testimony in support of An Act to increase family stabilization through the earned income tax credit (H.2871/S.1841) and An act providing a minimum income to all Massachusetts families (S.1852). Chairman Hinds, Chairman Cusack, and distinguished members of the Joint Committee on Revenue: Thank you for …
Testimony to expand the Earned Income Tax Credits for low-income households Read More »