Experts: Proceed with caution under tax overhaul

in

Jan 25 2018

By Katie Lannan, State House News Service / The Lowell Sun

The Massachusetts Taxpayers Foundation is "concerned long-term about potential impacts on federal revenue as our debt increases and federal spending could be reduced," McAnneny said. She said the law contains $6 trillion in cuts offset by $4.5 billion in hikes, for a net reduction in taxes of $1.5 trillion. What that revenue loss means for states is not yet clear, McAnneny said. Changes to Medicare reimbursement rates would have a "huge impact" on Massachusetts and its major health care sector, and it remains unseen if the federal government will partner with states on an infrastructure plan.
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