A new report published Tuesday by the left-leaning Massachusetts Budget and Policy Center suggests fears about outmigration are overblown or at least built on data that that points to “inconsistent” conclusions.
Massachusetts had one of the lowest rates of wealthy residents decamping for other states in the 2010s, according to a new report from a left-leaning think tank that argued it would be “misguided” to pursue tax cuts for wealthier households “to stem a non-existent exodus.”
If high-income households employ a legal tax avoidance strategy, the Massachusetts Budget and Policy Center says the state legislature should require that Bay Staters use the same filing status for their federal and state income taxes.
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.
Median household income in Massachusetts rose by less than 1 percent in 2017, according to new U.S. Census Bureau data, while the state’s poverty rate was flat and there was an uptick in people without health insurance.
