Without the short-term capital gains tax rate reduction favored by Gov. Maura Healey and the House, the Senate tax package “offers little” to offset the Fair Share Amendment tax hike on the wealthy, Eileen McAnneny said.
House Democrats have come around on the idea of slashing the state’s short-term capital gains tax rate after opposing it under Gov. Charlie Baker.
Building out her budget-week media blitz, Gov. Maura Healey ventured before a new audience Monday night in her first appearance on WBZ NewsRadio’s NightSide with Dan Rea, where she discussed tax relief, problems with new Red and Orange Line cars and the state’s burdensome cost of living.
Attempting to restart a debate that skidded out last summer, the Healey administration on Monday rolled out an $859 million tax relief proposal that would offer new breaks to hundreds of thousands of Bay Staters while reforming the estate tax and the levy on short-term capital gains.
Facing blame from Democrats for mounting public frustration with clogged roads and public transit problems and support for better mass transit service, Gov. Charlie Baker said the state doesn’t need to raise taxes to confront the congestion problems.
A state representative from Cambridge wants to raise the state’s capital gains tax in order to generate more than $1 billion in new revenue for the state each year, but at least one fiscal watchdog worries that could backfire by discouraging investment.
