Raising the State Income Tax

Three state legislators including State Rep. James O' Day, of Worcester, is  co-sponsoring "An Act to Invest in Our Communities."

This bill would raise $1.2 billion annually by asking more from high0-income households and investors who received large windfalls from the Bush tax cuts, while raising the personal exemption as a way of holding down any tax increase for middle class families. Under this package, most people in Massachusetts would actually see a modest tax cut.

What This Bill Would Do:

1. Restore the income tax rate from 5.3 percent to 5.95 percent, but raises the personal exemption enough to hold down increases for middle class families.

2. Raise the tax rate on wealthy investors, but provide a targeted exemption for middle class seniors.

3. Raises revenue to maintain funding for our communities, schools and health care.

Shrewsbury will benefit from the increased revenue by preventing cuts in education next year as well as possible cuts in public safety and other essential services. However, I would like to see the Patrick Administration create several tasks forces to look at pension issues, outrageous health insurance costs, welfare and Mass. health fraud and corporate loopholes that contribute to huge deficits in our state.

Isn't it time to repair the cracks in the system to promote fairness and justice for all residents?

For more information on the bill, visit this website.

What do you think?