Gov. Maura Healey’s campaign is out with a new ad focused on reminding voters that are ready to file their taxes that some of the savings they find this year is there through the governor’s efforts.
The new ad, which went live Monday morning, calls attention to a series of tax cuts passed by the Legislature and signed into law by the governor last year. The governor’s ad can be viewed here, and the transcript follows.
“Hello, Maybe you saw my post earlier. Tax Day is in less than one month. That means our new cuts will be at work, representing $1 billion in savings for taxpayers. That’s a big deal for the seniors who will have to worry a little less about the bills. It’s a big deal for families who will benefit from the most generous Child and Dependent Tax Credit in the country. It’s a big deal for renters, commuters, homeowners, small businesses, and so many more. Massachusetts is the best state in the country. We need to make sure that our residents can afford to stay here.
I believe government should be there to make life easier, not harder. That’s why I’m proud that we’ve delivered these tax cuts. It’s why we’ve made school meals free for all families and community college free for students 25 and older. We’ve increased financial aid to make state colleges and universities more affordable and expanded access to affordable child care. And we’ve proposed major changes to bring down the costs of housing for everyone.
I know that we have a lot more to do. We’re going to keep working to lower costs, build more housing, and make sure that Massachusetts is a place you can always call home — and your children, and their children. I love this state, and I can’t wait to keep making it stronger with you. Thank you,” Healey says in the ad.
Healey’s tax cuts, signed into law last September, achieve most of the aims found in a similar proposal offered by Gov. Charlie Baker before he left office, but Baker never managed to convince the Legislature to accept his plan.
The law increases the tax credit for a dependent child, disabled adult, or senior from $180 to $310 for 2023 and then to $440 going forward.
The law doubles the estate tax threshold, upping it to $2 million, effectively eliminating the tax for impacted households making less than that. It also raises the earned income tax credit from 30% to 40%, doubles the “senior circuit breaker” to $2,400, and ups the rental deduction from $3,000 to $4,000.
The law lowers the short-term capital gains tax from 12% to 8.5% and establishes a single sales factor apportionment for sales tax, removing considerations of property and payroll, “thereby removing a disincentive for Massachusetts companies to hire or grow in-state and making it more attractive for companies to headquarter in Massachusetts.”