The House on Monday advanced a economic development bill that invests $350 million in hospitals, $100 million in port development, $175 million in housing development and more than $3 billion in other areas, all while rolling out a series of one-time tax rebates and permanent tax breaks.
Democratic leaders of the House and Senate have agreed to a broad framework for up to $500 million in additional tax relief that would see credits for low-income earners, parents, renters and seniors expanded, and the “archaic elements” of the state’s estate tax reformed.
Massachusetts lawmakers are pointing the finger at the governor’s office for the latest MBTA problems and promising an oversight hearing, a day after the agency slashed subway frequencies in the wake of federal safety directives.
State lawmakers agreed Monday to set Aug. 13 and 14 as the dates for this year’s annual sales tax holiday, but legislative leaders wouldn’t say whether any sort of reduction in or expanded break from the 6.25 percent sales tax will feature into their relief plans.
The dam appears to have broken on tax relief as state revenues continue to surge and Gov. Charlie Baker now expects that the Legislature, despite its recent tax votes, will approve some kind of a tax cut by the time formal lawmaking ends this summer.
House Democrats kicked off debate Monday on a nearly $50 billion state budget bill by rejecting Republican-led efforts to weave tax relief into the annual spending plan.
Acknowledging that surplus tax collections and federal aid have kept Massachusetts afloat through the darkest days of the pandemic, House leadership on Wednesday unveiled a nearly $50 billion budget for fiscal year 2023 that Speaker Ron Mariano said will reinvest in the state’s lower- and middle-class residents and gird the post-COVID economy for “tough times” in the future.
The details of the House budget won’t be fully known until Wednesday, but House Speaker Ron Mariano said Monday that his chamber is not going to propose tax relief or tax breaks as part of its plan for the fiscal year 2023.
