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Governor Healey Delivers Massachusetts’ First Tax Cuts in More Than 20 Years
Governor Healey Delivers Massachusetts’ First Tax Cuts in More Than 20 Years
Gov. Healeys’ new Child and Family Tax Credit “will be the most generous universal child and dependent tax credit in the country”
This week, Gov. Maura Healey delivered on a signature campaign promise to make Massachusetts more affordable and competitive by signing an historic $1 billion tax package that saves money for working families and seniors, along with renters, commuters, and farmers.
Specifically, Gov. Healey’s historic new Child and Family Tax Credit will make a major impact by increasing tax credits for parents and caregivers – which is now the “most generous universal child and dependent tax credit in the country” and will help over 565,000 families. Gov. Healey’s tax cuts will also boost the earned income tax credit and double the refundable senior circuit breaker tax credit for many seniors, among other key forms of tax relief.
The Governor stated, “We are thrilled to deliver on our promise to pass tax cuts that will result in real savings for the people of Massachusetts, including the country’s largest child and family tax credit that will go back in the pockets of parents and caregivers.”
Read More on Gov. Healey’s historic action:
- Boston Globe: Healey signs $1 billion tax package into law. Here’s what it means for your wallet. The bill, regarded as the most significant piece of legislation that has come across the governor’s desk since she took office, will beef up tax credits for caregivers, renters, and seniors, and appease the business community as well.
- MassLive: ‘Tax cuts are here’: Mass Gov. Healey signs $1B relief bill into law On the campaign trail and through her first nine months in office, Healey has repeatedly stressed her goal of making the state — which lost population between 2020 and 2022 — more affordable for residents and more economically competitive for businesses.
- Associated Press: Massachusetts governor signs tax relief package that will top $1 billion when fully phased in Massachusetts Gov. Maura Healey signed a tax relief package Wednesday that is designed to deliver $561 million in reductions to taxpayers and companies during the current fiscal year through a slew of credits and other measures aimed at lowering tax burdens.
- Boston25: Relief on the way: Mass. Gov. Healey signs new tax bill into law The bill expands tax credits for parents and caregivers, reduces the estate tax, increases the earned income tax credit, and boosts breaks for renters, seniors, and low-income families, among other things.
- NBC Boston: ‘Today we delivered for Mass.’ Healey signs off on major Mass. tax relief and reform bill“People can’t realize their dreams until the nightmare of high costs ends,” Healey said Wednesday. She added that making the Commonwealth more affordable is a key tenant of her campaign and that her administration has been driving that point home every day.