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The compromise tax reform package expected to win House and Senate approval this week combines relief for seniors, renters, caregivers and low-income families with a cut to the state's short-term capital gains tax rate, estate tax reforms and changes to a pair of voter-approved tax policies that have been in the spotlight.
Months of negotiations resulted in more than $500 million in tax relief for families, seniors, renters, businesses and real estate developers.
Massachusetts lawmakers will begin voting Wednesday on a $1 billion tax relief package that would boost tax breaks for families, seniors, renters, and others while slashing how much the state taxes profits on short-term investments.
MA $1 Billion Tax Relief Package: What's Inside Long-Brewing Bill - Boston, MA - The tax package filed Tuesday by Massachusetts lawmakers will be voted on this week following years of closed-door negotiations.
The package’s largest item, worth about $165 million this year and up to $307 million once fully implemented, is an overhauled child and dependent tax credit.