Gov. Maura Healey unveiled a roughly $750 million tax reform plan on Monday aimed at offering 'significant savings for families, renters, seniors' and others:
Gov. Maura Healey unveiled a roughly $750 million tax reform plan on Monday aimed at offering"significant savings for families, renters, seniors" and others.
The family tax credit would cost the state $458 million, according to Healey's office. It would"put money directly back into the pockets of 700,000 taxpayers in connection with more than 1 million dependents, helping families keep up with rising costs for child and senior care and bringing people back into the workforce to meet employer demand," Healey's office said in the statement.
Healey also wants to reduce the short-term capital gains tax from 12% to 5%, while also raising the threshold at which the state's estate tax kicks infrom $1 million to $3 million. The statement said the estate tax change would"reduce the tax burden on smaller estates, which historically have filed over 70% of estate tax returns."
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