"Hailing it as a historic win for taxpayers, Massachusetts lawmakers will begin voting Wednesday on a $1 billion tax package that would boost tax breaks for families, seniors, and others while slashing state taxes on profits from short-term investments, a change that had divided Democrats.The package would save hundreds of thousands of taxpayers a collective $561 million this fiscal year, according to legislative officials, with expectations that the total savings would eventually climb to just over $1.02 billion once it goes into full effect in fiscal year 2027, which begins July 1, 2026.Its emergence follows nearly two years of debate and months of closed-door negotiations about how best to ease the burden on taxpayers squeezed by the state’s rising cost of living and bring the tax code more into line with other states.The House is expected to vote on the measure Wednesday, and the Senate on Thursday, and it is expected to pass and move on to Governor Maura Healey, who has championed the need for tax relief."
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https://www.bostonglobe.com/2023/09/26/metro/massachusetts-tax-relief/
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| Senate President Karen E. Spilka and House Speaker Ronald Mariano (right) unveiled the tax relief deal during a press conference in the Senate Reading Room. PAT GREENHOUSE/GLOBE STAFF |
Commonwealth Magazine provides their coverage ->
and here -> https://commonwealthmagazine.org/state-government/tax-relief-bill-alters-refunds-under-tax-cap-law/
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