Sam Cavalheiro, “Massachusetts passes first tax cuts in almost two decades,” Daily Collegian, October 23, 2023.
Jonathan Cohn, Policy Director at Progressive Massachusetts (a progressive policy advocacy group,) was disappointed at the new tax law as he felt it only focused on cutting taxes.
Cohn explains that Massachusetts voters, in the most recent election, voted out a Republican governor who was fiscally conservative and passed an increase on taxes on the wealthy, called the Fair Share Amendment.
“Shifting the entire discussion to cutting taxes feels like ‘Wait, what just happened in the last election?’ It’s just not the best use of that in the political moment,” he said.
Cohn argues that the tax cuts do little to make Massachusetts an affordable place, referencing the Child Tax Credit Expansion: “…raising that child tax credit of $440 is ultimately not going far for people given how expensive children are. In Massachusetts, the cost of childcare is over $20,000 a year and saying that their tax credit is [going to] go up from $140 to $440 over a few years, that’s not a significant amount.”
He also argues that the rental deduction will do little to make Massachusetts more affordable: “What the expansion of the rental deduction means maybe $50 more for many renters… and many people see their rent increase each year by more than $50.”
Cohn criticized the short-term capital gains cuts and estate tax cuts, which mostly affect wealthier residents. He questions who the tax cuts are benefiting.
“Is it disproportionately benefiting those who already have high incomes or is it benefiting the people who are really struggling with being able to afford to live in Massachusetts?”
