Mass. lawmakers agree to tax relief deal

Many elements are aimed at helping low-income people and families.
Massachusetts Senate President Karen Spilka, left, and Massachusetts House Speaker Ronald Mariano, both Democrats, unveiled a tax relief package, Tuesday, Sept. 26, 2023, at the Statehouse, in Boston. The relief package is aimed at delivering $561 million in tax reductions to taxpayers and companies during the current fiscal year through a slew of tax credits and other steps. (AP Photo/Steve LeBlanc)

Massachusetts lawmakers are poised to vote on a tax relief deal that would increase tax credits for low-income people and families while also lowering taxes on short-term capital gains and inheritances and simplifying corporate income tax liability.

“It is the largest bipartisan legislative tax relief proposal in over a generation, and I think probably in everyone’s collective memory here,” Senate President Karen Spilka (D) said Tuesday during a press conference announcing the deal. “This tax relief bill will eliminate many, many financial burdens that our families, our seniors, our renters face and put real dollars in their pockets.”

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