On behalf of the numerous businesses represented by the Massachusetts Taxpayers Foundation, I write to respectfully request that you report H.2606 – An Act Allowing for the Deduction of Business Interest – favorably from Committee at your earliest convenience. This bill would decouple Massachusetts from the new limitations on interest expense deductibility under IRC §163(j) – a change made necessary by the recently enacted federal tax reforms. Passing this bill would prevent a corporate tax increase, stop a hike in the cost of capital and ensure Massachusetts remains competitive for investment.
August 14, 2019
Support for H.2606 – An Act Allowing for the Deduction of Business Interest
On behalf of the numerous businesses represented by the Massachusetts Taxpayers Foundation, I write to respectfully request that you report H.2606 – An Act Allowing for the Deduction of Business Interest – favorably from Committee at your earliest convenience. This bill would decouple Massachusetts from the new limitations on interest expense deductibility under IRC §163(j) – a change made necessary by the recently enacted federal tax reforms. Passing this bill would prevent a corporate tax increase, stop a hike in the cost of capital and ensure Massachusetts remains competitive for investment.