Governor Baker tax relief plan
BOSTON (WWLP) – The revenue committee met today to consider the Governor’s tax relief plan. 22News explains the benefits that the bill aims to provide to families and seniors across the state.
Governor Baker was here at the statehouse today to testify on his tax relief plan, and he’s got some ambitious ideas on how to put money back in the pockets of residents across the state.
Baker’s tax relief proposal aims to double the tax credits for dependents and for child care. On top of that, the bill also increase the cap on deductions for rent payments from $3,000 to $5,000 which baker said will be a game changer for families that are struggling to make ends meet.
“We believe it’s time to give Massachusetts families back some of the tax revenue that they’ve created through their hard work,” said Governor Baker.
The governor also wants to raise the income threshold at which people are required to file taxes, to $12 thousand dollars for single filers and 24 thousand dollars, a move that would save about 200 thousand of the lowest-income taxpayers more than 41 million dollars annually.
Baker’s tax plan will have to go through the committee process. If it is approved by committee members, it will be sent to the house and the senate for a full vote.