Bill Provides Significant Housing, Dependent Care, and Estate Tax Assistance
(BOSTON– 6/15/23) The Massachusetts Senate approved on Thursday a $590 million Tax Relief bill which delivers support to low- and middle-income earners and chips away at the headwinds that threaten Massachusetts’ competitiveness. Focusing on providing relief to residents across Massachusetts while upholding fiscal responsibility, the Senate’s tax relief package proposes relief to renters, seniors, and parents struggling with high early education costs while also increasing much-needed housing production. With the recent passage of the Fiscal Year 2024 budget last month, the Commonwealth is now poised to secure and strengthen its economic foundation to weather future uncertainty.
“The tax relief proposal passed in the Senate demonstrates our chamber’s commitment to progressive tax relief that improves the quality of life for the people of the Commonwealth, not corporations,” said Senator Friedman, Vice Chair of the Senate Committee on Ways and Means. “Living in the Greater Boston area, I know the cost of housing and childcare continues to be a persistent issue for our low- and middle-income residents and young residents and families. The Senate’s proposal addresses this by making meaningful and sustainable reforms so people can afford to come and stay in the Commonwealth. This tax plan is a good start and will have a demonstrable benefit on the communities of the 4th Middlesex district and I thank my Senate colleagues for their deliberate and thoughtful work.”
This package includes a variety of initiatives as tax relief for the residents of Massachusetts.… Read more.