Speaker Ron Mariano's office estimates the bill, which will hit the House floor for a vote Thursday, would cost $654 million in fiscal year 2024 and rise to an annual price tag of $1.1 billion in fiscal year 2026 and beyond.
Speaker Ron Mariano's office estimates the bill, which will hit the House floor for a vote Thursday if the committee advances it as expected, would cost $654 million in fiscal year 2024 and rise to an annual price tag of $1.1 billion in fiscal year 2026 and beyondHouse Democrats have come around on the idea of slashing Massachusetts' short-term capital gains tax rate after opposing it under Gov.
Speaker Ron Mariano's office estimates the bill, which will hit the House floor for a vote Thursday if the committee advances it as expected, would cost $654 million in fiscal year 2024 and rise to an annual price tag of $1.1 billion in fiscal year 2026 and beyond. His office issued a press release The bill also makes a change designed to make Massachusetts more attractive to multi-state companies, which are subject to a three-factor apportionment based on location, payroll, and receipts.
The governor's nearly $1 billion tax relief bill generated lots of testimony during a public hearing of the Joint Committee on Revenue, but that panel has held on to the bill and does not appear to be playing any formal role in the bill that the House will consider.
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