A college degree unequivocally increases earnings, and with income inequality at the forefront of state and national policy debates, it is important for the state to consider policies that encourage all Massachusetts residents to save for college. Recognizing the importance of saving for college, 33 of the 41 states with a personal income tax allow a deduction for contributions to 529 plans.
June 30, 2015
EDUCATION
MTF letter in support of tax deductions for contributions to college savings plans to House
A college degree unequivocally increases earnings, and with income inequality at the forefront of state and national policy debates, it is important for the state to consider policies that encourage all Massachusetts residents to save for college. Recognizing the importance of saving for college, 33 of the 41 states with a personal income tax allow a deduction for contributions to 529 plans.
