Massachusetts
State Rundown 1/26: Tax Season Brings With it Reminder of EITC’s Impact
• By ITEP Staff
Tax season has officially kicked off and with Earned Income Tax Credit (EITC) Awareness Day right around the corner, it serves as another reminder for how important the EITC is...
How Many States Have a Flat Income Tax?
• By ITEP Staff
Two-thirds of states with broad-based personal income tax structures have a graduated rate, while one-third have flat taxes.
State Lawmakers Should Break the 2023 Tax Cut Fever Before It’s Too Late
• By Miles Trinidad
Despite mixed economic signals for 2023, including a possible recession, many state lawmakers plan to use temporary budget surpluses to forge ahead with permanent, regressive tax cuts that would disproportionately benefit the wealthy at the expense of low- and middle-income households. These cuts would put state finances in a precarious position and further erode public investments in education, transportation and health, all of which are crucial for creating inclusive, vibrant communities where everyone, not just…
Momentum Behind State Tax Credits for Workers and Families Continues in 2023
• By Miles Trinidad
Refundable tax credits are an important tool for improving family economic security and advancing racial equity, and there is incredible momentum heading into 2023 to boost two key state credits: the Child Tax Credit and the Earned Income Tax Credit.
The Pitfalls of Flat Income Taxes
• By Carl Davis, Eli Byerly-Duke
Flat taxes have some surface appeal but come with significant disadvantages. Critically, a flat tax guarantees that wealthy families’ total state and local tax bill will be a lower share of their income than that paid by families of more modest means.
State Rundown 11/30: ‘Lame Duck’ December Could Have Major Tax Implications
• By ITEP Staff
As federal lawmakers begin their lame duck deliberations, the revival of the expanded child tax credit remains a strong possibility...
Jacobin: In Massachusetts, Unions Beat Billionaires to Pass a Tax on the Rich
November 23, 2022
Voters in Massachusetts just ratified the Fair Share Amendment, which taxes income above $1 million to fund public services. A broad coalition of labor and community groups took on billionaire money and won. Read more.
State Child Tax Credits and Child Poverty: A 50-State Analysis
• By Aidan Davis
Regardless of future Child Tax Credit developments at the federal level, state policies can supplement the federal credit to deliver additional benefits to children and families. State credits can be specifically tailored to meet the needs of local populations while also producing long-term benefits for society as a whole
State Rundown 11/10: Midterm Madness
• By ITEP Staff
As states continue to tally the remaining votes and the news stories roll out at a breakneck pace, the unofficial results of the 2022 midterm elections have brought with it significant changes across the state tax policy landscape...
Election Day in the States: Voters Deliver Important Victories for Tax Justice
• By Jon Whiten
Voters in Massachusetts and Colorado raised taxes on their wealthiest residents to fund schools, public transportation and school lunches for kids while making their tax codes more equitable. And voters in West Virginia defeated a proposal to deeply cut taxes, mostly for businesses, and drain the coffers of county and local governments.
Massachusetts Voters Score Win for Tax Fairness with ‘Fair Share Amendment’
• By Marco Guzman
In a significant victory for tax fairness, Massachusetts voters approved Question 1—commonly known as the Fair Share Amendment—Tuesday night with 52 percent of the vote. The new constitutional amendment creates a 4 percent surcharge on income over $1 million, and the revenue will specifically fund education and transportation projects in the Bay State.
State Rundown 11/2: Midterms on the Mind
• By ITEP Staff
Next Tuesday, voters will head to the polls to not only elect local and national leaders, but also let their voices be heard on a range of tax policy issues that could improve or worsen their state tax codes...
Measures on the November Ballot Could Improve or Worsen State Tax Codes
• By Jon Whiten
In a couple of weeks, voters in a handful of states will weigh in on several tax-related ballot measures that could make state tax codes more equitable and raise money for public services, or take states in the opposite direction, making tax systems less fair and draining state coffers of dollars needed to maintain critical […]
Report: Ten States Hold 71 Percent of America’s Extreme Wealth
• By ITEP Staff
Tackling wealth inequality through the tax code can boost economic opportunity Washington, DC: Wealth inequality is rampant in every state and particularly concentrated in a handful of states, according to a first-of-its-kind analysis released today by the Institute on Taxation and Economic Policy (ITEP). This extreme wealth hinders economic opportunities for all but the […]
The Geographic Distribution of Extreme Wealth in the U.S.
• By Carl Davis
More than one in four dollars of wealth in the U.S. is held by a tiny fraction of households with net worth over $30 million. Nationally, we estimate that wealth over $30 million per household will reach $26 trillion in 2022 with roughly one-fifth of that amount ($4.5 trillion) held by billionaires.
State Rundown 9/21: Earth, Wind, Fire & Taxes Edition
• By ITEP Staff
Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered...
More States are Boosting Economic Security with Child Tax Credits in 2022
• By Aidan Davis
After years of being limited in reach, there is increasing momentum at the state level to adopt and expand Child Tax Credits. Today ten states are lifting the household incomes of families with children through yearly multi-million-dollar investments in the form of targeted, and usually refundable, CTCs.
Legislative Momentum in 2022: New and Expanded Child Tax Credits and EITCs
• By Neva Butkus
State legislatures across the country made investments in their future, centering children, families, and workers by enacting and expanding state Earned Income Tax Credits (EITCs), Child Tax Credits (CTCs), and other refundable credits this session. In total, seven states either expanded or created CTCs this session. Connecticut, New Mexico, New Jersey, Rhode Island and Vermont […]
Sales Tax Holidays: An Ineffective Alternative to Real Sales Tax Reform
• By Marco Guzman
Lawmakers in many states have enacted “sales tax holidays” (20 states will hold them in 2022) to temporarily suspend the tax on purchases of clothing, school supplies, and other items. These holidays may seem to lessen the regressive impacts of the sales tax, but their benefits are minimal while their downsides are significant—particularly as lawmakers have sought to apply the concept as a substitute for more meaningful, permanent reform or arbitrarily reward people with specific…
State Rundown 7/13: Let’s Make a Deal
• By ITEP Staff
From the Bay State to the Golden State, lawmakers across the nation are making deals and negotiating budgets with major tax implications...
State Rundown 6/22: Southern States Edition
• By ITEP Staff
With many state legislative sessions wrapped or wrapping up, we at ITEP want to take a moment to direct your attention south, and specifically, to the American South...
State Rundown 6/8: Tax Policy Features Prominently During Budget and Primary Season
• By ITEP Staff
As voters head to the polls to weigh in on their state’s primary elections and legislators convene to hash out budget deals, tax policy remains atop the agenda...
State Rundown 5/11: Mid-Year Special Elections and Primary Season Kicks Off with Taxes in the Spotlight
• By ITEP Staff
As 2022 inches closer to its midpoint, important tax policy decisions are being put in the hands of voters, as special elections and the primary season begin...
State Rundown 4/27: States Remain Active on the Tax Front
• By ITEP Staff
While tax discussions among federal lawmakers continue in fits and starts, major tax news continues to make waves across the nation...
State Rundown 4/13: Recent State Budgets Prove Not All Tax Cuts are the Same
• By ITEP Staff
Two prominent blue states made headlines this past week when they passed budget agreements that include relief for taxpayers, and fortunately, the budget plans don’t include costly tax cuts that primarily benefit the wealthy...
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