Amid debate over how to keep Massachusetts competitive and how tax cuts figure into that goal, Senate President Karen Spilka emphasized Thursday the importance of “shoring up and expanding” the state’s middle class.
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.
The Massachusetts legislature’s Revenue Committee advanced a $600 million tax relief package on Friday, but the panel’s House chairman said the measure remains a work in progress.
The odds of estate tax reform appeared to improve Tuesday, and with it benefits for empty-nesters looking to downsize, Senate President Karen Spilka said Tuesday.
A long-running debate over the state’s estate tax revived on Beacon Hill as the Revenue Committee took up bills Tuesday calling for reforms or outright abolition of the levies charged when assets are passed along following a person’s death.
Greater Boston today has one of the hottest development markets in the country, with practically a new skyscraper or research lab around every corner. For a city that four decades ago was on the verge of joining the Rust Belt and becoming a glorified Lowell by the sea, it’s quite a comeback story.
