View more in Tax Credits
Jul 21 2015
On July 8, the day the Legislature passed the budget, the four major business groups in town — Associated Industries of Massachusetts, the Massachusetts Taxpayers Foundation, the Greater Boston Chamber of Commerce, and the Massachusetts Business Roundtable — joined forces to urge Baker to veto the measure that would eliminate FAS 109, an accounting rule that includes hefty tax deductions for some companies.
Jul 19 2015
According to Associated Industries of Massachusetts, the Greater Boston Chamber of Commerce, the Massachusetts Business Roundtable and the Massachusetts Taxpayers Foundation, the agreement "provides certainty for the state's businesses regarding the FAS 109 deduction for several years, and such predictability is critical for economic growth and business development." Baker last week said he did not view repealing the FAS-109 deduction as a tax increase, while Massachusetts Taxpayers Association President Eileen McAnneny said she believed the repeal was a tax hike.
Jul 18 2015
The Associated Industries of Massachusetts, Greater Boston Chamber of Commerce, Massachusetts Business Roundtable, and Massachusetts Taxpayers Foundation had urged the Legislature to reconsider the deduction repeal when it first became public last week. Also, individual companies such as Verizon expressed concerns.
Apr 1 2015
Massachusetts Taxpayers Foundation President Eileen McAnneny testified in support of Baker's bill, calling the film credit "highly inefficient" while she said the money spent on the earned income tax credit would largely flow back into the state's economy. McAnneny cautioned that any expansion in the EITC should paired with offsetting revenue or budget savings, and should be administered carefully to avoid fraud or filing errors.
Mar 8 2015
It’s good politics, but also good policy. In that quest, Baker has the blessing of Michael J. Widmer, the outgoing president of the Massachusetts Taxpayers Foundation, who during his farewell gala speech took time to declare, “By the way, Charlie, I strongly agree with that proposal.”
Mar 3 2015
Report after report has shown that the number of jobs created is small, and that much of the money flows to out-of-state movie stars. The program has attracted criticism from across the political spectrum, from left-leaning groups, like the Massachusetts Budget and Policy Center, to the business-funded Massachusetts Taxpayers Foundation.
Mar 11 2014
The heads of Associated Industries of Massachusetts, the Greater Boston Chamber of Commerce, the Massachusetts Business Roundtable, and the Massachusetts Taxpayers Foundation came together to write a letter to the chairmen of the Legislature’s Joint Committee on Revenue, warning about the “chilling” implications of the auditor’s plans.
Apr 1 2013
Andy Bagley, director of research and public affairs at the Massachusetts Taxpayers Foundation, said production companies use the tax credits to bring in the higher-paying skilled talent from out of state, leaving the lower-paying, menial, part-time jobs to residents. Bagley thinks the taxpayer money should be used elsewhere, such as for education.
Mar 20 2013
But Andy Bagley, of the Massachusetts Taxpayers Foundation, said the tax credits should be eliminated. He said they are not worth the money they cost the state and there's no permanence to the jobs they bring. "The jobs created are small, most of them are part time. It's a highly mobile industry that goes from state to state looking for the best deal," said Bagley.
Feb 4 2013
Gov. Deval Patrick’s planned shifting of the income and sales tax rates would essentially result in a revenue “wash” and the bulk of $1.9 billion in new revenues under his tax code overhaul would come from eliminating specific exemptions and deductions, according to the Massachusetts Taxpayers Foundation.