Tax Season Trends: Blue States Move to Boost Competitiveness
This tax season, affordability and efforts to ease tax burdens are not just a priority for right-leaning lawmakers. Both sides of the aisle are increasingly concerned about competitiveness and looking to tax relief as a solution to jumpstart lagging state economies.
Massachusetts Teachers Give Income Tax Cut an A+
New polling by the Mass Opportunity Alliance shows that Massachusetts teachers overwhelmingly support a proposed law that would lower the state income tax from 5% to 4%. In fact, teachers believe such a policy would strengthen both their profession and the state’s long-term competitiveness.
FACT CHECK: Income Tax Cut Won’t Cost $5 Billion
Recent reports have claimed that lowering the income tax rate would create a $5 billion hole in the state budget. MOA’s research reaches a different conclusion, finding this policy would have a modest impact on state income tax revenues in the phase-in years, and also help our economy grow faster long-term.
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The Opportunity Report Card features statistics on standards of living and business operation in Massachusetts.
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Vanishing Venture Capital? MA Investment Lags Behind Competitor States
Massachusetts has long led the nation in attracting startup business investment. While the state still ranks among the top in the country for venture capital funding, new data reported by the Boston Globe suggests we might be slipping. We dig into why that could be and what other states are doing to boost investment.
Tax Season Trends: Blue States Move to Boost Competitiveness
This tax season, affordability and efforts to ease tax burdens are not just a priority for right-leaning lawmakers. Both sides of the aisle are increasingly concerned about competitiveness and looking to tax relief as a solution to jumpstart lagging state economies.
Massachusetts Teachers Give Income Tax Cut an A+
New polling by the Mass Opportunity Alliance shows that Massachusetts teachers overwhelmingly support a proposed law that would lower the state income tax from 5% to 4%. In fact, teachers believe such a policy would strengthen both their profession and the state’s long-term competitiveness.
FACT CHECK: Income Tax Cut Won’t Cost $5 Billion
Recent reports have claimed that lowering the income tax rate would create a $5 billion hole in the state budget. MOA’s research reaches a different conclusion, finding this policy would have a modest impact on state income tax revenues in the phase-in years, and also help our economy grow faster long-term.
These Five States Have Lost The Most Taxpayer Income
In 2023, Massachusetts lost $4.2 billion in income as more residents moved out than in—but it’s not alone. New data shows a broader pattern taking shape across the country, with high-tax states losing people and income while more affordable states gain ground.
NEW DATA: Mass Loses 150,000 Taxpayers, High Earners Drive Income Loss
The verdict is in. New data from the Internal Revenue Service confirms that Massachusetts is losing talent and taxable income to lower-cost, lower-tax competitor states.
At Mass Opportunity Alliance, we believe a strong business climate means a better quality of life for all.
Our mission is to defend and strengthen the Massachusetts business climate, ensure long-term economic success and prosperity, promote social mobility, and enhance economic opportunities for all in the Commonwealth.
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