In The News: Tax Credits

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Tax credit deal is just not enough

Jul 21 2015

By Shirley Leung, The Boston Globe

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.
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Baker, legislative leaders strike deal to keep business tax break

Jul 19 2015

By Matt Murphy and Michael Norton, State House News Service / WBJournal

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.
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Beacon Hill leaders keep corporate tax deduction intact

Jul 18 2015

By Jon Chesto, The Boston Globe

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.
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Rep sees broad base of film tax credit support in House

Apr 1 2015

By Matt Murphy, State House News Service / Nashoba Publishing

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.
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Good riddance to the Mass. film tax credit

Mar 8 2015

By Joan Vennochi, The Boston Globe

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.”
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Editorial: End Mass. film tax credit

Mar 3 2015

The Boston Globe

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.
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Call to audit tax breaks brings howls

Mar 11 2014

By Steven Syre, The Boston Globe

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.
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Massachusetts' film tax credit: Hit or bomb?

Apr 1 2013

By Peter McQuaid, The Lowell Sun

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.
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Massachusetts film industry applauds tax credit program

Mar 20 2013

By Amalia Barreda, WCVB

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.
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Governor's 'revenue' plans KOs exemptions

Feb 4 2013

By Andy Metzger, State House News Service / The Glouscester Times

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.
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