Displaying 1–10 of 318
Jan 27, 2023
ECONOMY
Doug Howgate, president of the Massachusetts Taxpayers Foundation, said Thursday that several implementation questions left unresolved by the ballot question “must be answered soon or the state will exacerbate negative behavioral impacts of the...
ECONOMY
Jan 27, 2023
PUBLIC FINANCE > Taxes > Income Tax
During discussion on how to best use those incoming funds on Tuesday, Massachusetts Taxpayers Foundation President Doug Howgate advocated for splitting the revenues 50/50, "half for transportation, half for education." Lawmakers have not committed to...
PUBLIC FINANCE > Taxes > Income Tax
Jan 26, 2023
ECONOMY
Last summer, a report from the Massachusetts Taxpayers Foundation suggested high costs and taxes were helping drive tens of thousands of taxpayers out of the state every year. Between 2010 and 2019, about 800,000 tax filers with a combined $65...
ECONOMY
Jan 25, 2023
PUBLIC FINANCE > Taxes > Income Tax
Doug Howgate, the president of the Massachusetts Taxpayers Foundation, says the law mentions only two pots for the money to go in. “The most straightforward way to do that is to distribute it 50-50,” he said. ...
PUBLIC FINANCE > Taxes > Income Tax
Jan 25, 2023
PUBLIC FINANCE > Taxes > Income Tax
Doug Howgate, president of the Massachusetts Taxpayers Foundation, testified he agrees with the overarching premise of Chapter 62F — namely that the state should be required to return excess tax revenues that far exceed projections back to...
PUBLIC FINANCE > Taxes > Income Tax
Jan 25, 2023
PUBLIC FINANCE > Taxes > Income Tax
The remaining majority of the dollars would come from estimated payments. Howgate said other non-withholding revenue sources like capital gains are based on the prior year’s tax liability, pushing out the date by which a clear picture of surtax money...
PUBLIC FINANCE > Taxes > Income Tax
Jan 24, 2023
PUBLIC FINANCE > Taxes > Income Tax
Doug Howgate, the president of the Massachusetts Taxpayers Foundation, said he projects that fiscal year 2024 state revenues will come in at $40.06 billion, an increase of $366 million or about 1 percent over fiscal 2023. “There are numerous cross...
PUBLIC FINANCE > Taxes > Income Tax
Jan 24, 2023
PUBLIC FINANCE > Taxes > Income Tax
Doug Howgate, president of the Massachusetts Taxpayers Foundation, stopped short of offering a surtax revenue projection in his testimony, citing a lack of information so far and the inherent volatility of the metric. The full impact of the surtax...
PUBLIC FINANCE > Taxes > Income Tax
Jan 24, 2023
PUBLIC FINANCE > Taxes > Income Tax
Doug Howgate, president of the business-backed Massachusetts Taxpayers Foundation, urged lawmakers on Tuesday to not use any of the revenue the tax generates this year, and to cap how much it dips into next year at $500 million while the state gains...
PUBLIC FINANCE > Taxes > Income Tax
Jan 24, 2023
PUBLIC FINANCE > Taxes > Income Tax
A proposal outlined by the Massachusetts Taxpayers Foundation at the hearing called for splitting the money from the surtax equally between two trust funds, one for education and one for transportation. The foundation recommended not touching any...
PUBLIC FINANCE > Taxes > Income Tax