PUBLIC POLICY

Mass. task force urges fewer tax breaks

Posted 3/20/12

BOSTON – The Expenditure Commission – a joint task force of elected officials and policy makers in Massachusetts – thinks the Bay State needs to overhaul its tax system to eliminate tax exemptions that cost billions in public revenue, according to Boston.com.

The task force released a preliminary report that calls on Gov. Deval L. Patrick and state legislators to reduce the number of tax breaks offered in the Bay State.

Massachusetts has 200 tax credits, deductions and exemptions that cover things such as funeral items and cement mixers, according to the Dept. of Revenue and Boston.com. The tax breaks cost the state more than $26 billion a year in revenue – roughly $4 billion more than it collects in taxes every year.

Supporters of tax exemptions argue that they encourage expansion, create jobs and attract businesses, since they often target specific industries.

Members of the Expenditure Commission have not finalized details, but told the news site that the report would probably identify specific tax breaks to be eliminated.

The final report is scheduled to be released by April 1.

Calendar
PBN Hosted
Events

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement