In The News: Taxes

View more in Taxes

Industry sets stage for film tax credit fight

in

Sep 24 2019

By Andy Metzger, Commonwealth

The Massachusetts Taxpayers Foundation is among the groups that hopes the film tax credit is in its final seasons, believing the funding could be better spent on “other priorities.” “We are opposed to the film tax credit. We’ve had long-standing opposition,” said Eileen McAnneny, president of the business-backed group. “Most of the money goes to firms outside of Massachusetts.”
Full article
Forward to a friend

Boston business leaders weigh in on second go-around for a ‘millionaire’s tax’

Jun 15 2019

By Kalina Newman, South Coast Today

The MTF statement cited doubts over whether the estimated $2 billion in tax revenue would go towards the proposed transportation and education, or would even materialize at all. ″[T]he power to appropriate revenue in the state budget rests solely within the Legislature and cannot be guaranteed in the constitution,” according to the statement. Because the wording of the amendment says the funds are “subject to appropriation,” the decision on how to best spend the additional funds would need to be made each year by future legislatures.
Full article
Forward to a friend

Baker urges high tech leaders to help in housing, education

Jun 10 2019

By Matt Murphy, State House News Service / The Salem News

The Massachusetts Taxpayers Foundation echoed the message from Anderson in an analysis released Monday where the group concluded that the millionaires tax was not "sound tax policy." The foundation also said the estimated $1.9 million in new tax revenue was "unlikely" to materialize due to the mobility of wealthy taxpayers and the volatility of capital gains taxes. "Given the probability of changes to the economy and taxpayers predilection to avoid taxes it's extremely likely that revenue collections will fall well short of projections for these two reasons," the foundation said.
Full article
Forward to a friend

For ‘millionaires tax,’ debate rages on

May 24 2019

By Kalina Newman, The Metrowest Daily News

The Massachusetts Taxpayers Foundation, a business-funded public policy organization, has been vocal in its opposition and views the tax as a “far-reaching and unguided experiment that risks the state’s economic well-being.” The MTF statement expressed doubts over whether the estimated $2 billion in tax revenue would go toward the proposed transportation and education, or would even materialize at all.
Full article
Forward to a friend

Prop 2 1/2 overrides disappearing, but taxpayers still pay

May 20 2019

By Eli Sherman, Wicked Local

But within the last decade, new construction and rising property values have helped boost local revenue, offsetting a declining share of state aid provided to municipalities, which fell to 19 percent of municipal revenue in fiscal 2018 compared to 28 percent in fiscal 1999, according to a 2019 report by the Massachusetts Taxpayers Foundation. The increase in new building and property values has also made overrides less common.
Full article
Forward to a friend

Capital gains eyed by state rep. as way to boost revenue

Apr 19 2019

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

Massachusetts Taxpayers Foundation President Eileen McAnneny said lawmakers should be "very careful" in considering changes to the capital gains tax rate, warning of potential unintended consequences like discouraging people from investing or saving. McAnneny noted that money a person invests has often already been taxed when it is earned as income.
Full article
Forward to a friend

Editorial: Should Massachusetts continue its film tax credit?

Apr 5 2019

By Eileen McAnneny, The Boston Globe

The Massachusetts Taxpayers Foundation is an opponent of the film tax credits for two primary reasons: the inefficiency of the credit and the sub-optimal use of limited taxpayer resources.
Full article
Forward to a friend

‘Millionaire tax’ amendment rises again at Statehouse

Feb 10 2019

By Bob Salsberg, AP / Boston Herald

“It’s a different process and I think they’re right,” said Eileen McAnnenny, president of Massachusetts Taxpayers Foundation. “Because this is not a citizen’s petition the prohibitions don’t apply.”
Full article
Forward to a friend

Op-Ed: Ruling on millionaire tax right one constitutionally

Jul 3 2018

By Eileen McAnneny, CommonWealth Magazine

AS A PLAINTIFF in the lawsuit Anderson v. Attorney General, I applaud the court’s decision, although I don’t consider myself or the Massachusetts Taxpayers Foundation, the organization that I represent, the winner. The real winner is our democracy.

Full article
Forward to a friend

Lawmakers are looking at their own ‘millionaire’s tax,’ but it’s going to take a while

Jun 22 2018

By Joshua Miller, The Boston Globe

“The income surtax petition has raised legal, fiscal and economic concerns for the Massachusetts Taxpayers Foundation,” said Eileen McAnneny, the group’s president. While the high court’s ruling addressed the legal concerns, she said, “the fiscal and economic ones remain as does our apprehension of embedding a tax in the constitution. Given that our infrastructure continues to deteriorate, waiting another 4 years to have the legislature amend the constitution as Senator Lewis proposes is not the best path forward.” Instead, she said, the difficult conversations about how to comprehensively address the needs of the state in a way that helps rather than hinders the economy should begin right now.
Full article
Forward to a friend
See our site policy on external link content.