January 24, 2023
PUBLIC FINANCE > Taxes > Income Tax

New tax on high incomes could generate at least $1.4 billion next year, state officials project

Matt Stout ,

The Boston Globe

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 a handle on the money it could produce.

“The cap that we suggested is, I think, one way to do it,” Howgate said. “That’s not to say there could be another approach that makes sense as well.”