S.1416; Sponsored by Sen. Sonia Chang-Díaz
S1416 would raise $1.2 billion to restore budget cuts by increasing the state income tax from 5.3 to 5.95% while doubling the personal exemption to protect working families, and also raising the capital gains tax on wealthy investors. Our MA tax system puts disproportional costs on the middle class and working poor, taking more as a % of their income than wealthy earners. S1416 will help make critical investments in public education, health care, transportation infrastructure, human services and protecting the environment that will allow more Massachusetts families to earn a better living and enjoy a better quality of life.
Status: Referred to the Joint Committee on Revenue.
Action: Contact your legislators in support of the bill & ask them to contact Committee on Revenue Chairs Sen. Candaras and Rep. Kaufman to report out the bill