Know the FACTS:
Voting YES on the income tax cut would put $1,300 a year back in the average Massachusetts family’s pocket.
The affordability crisis in Massachusetts has led to us losing a resident every 12 minutes or less.
A recent Boston Globe poll showed that nearly 1 in 3 residents could move out of Massachusetts because of affordability concerns.
Massachusetts has one of the steepest tax burdens in the country, and polling shows 82% of Massachusetts voters think their taxes are too high. A survey of residents who recently moved out of Massachusetts found high taxes was the number-one reason for leaving.
Nearly three-quarters of all Massachusetts voters support strengthening the Massachusetts revenue cap and lowering the income tax rate from 5% to 4%.
Support is even stronger among union members: 82% of surveyed Massachusetts union members support cutting the income tax from 5% to 4%, and 78% support a revenue cap that yields more frequent refunds to taxpayers.Reducing the income tax on residents from 5% to 4% over three years saves the average taxpayer over $1,300 annually and increases the state’s gross domestic product by over $17 billion.
When Massachusetts voters approved a tax cut beginning in 2001, revenues recovered and ultimately exceeded earlier highs, according to a Pioneer Institute analysis.