Health & Fitness
Education Before Evergreen (Solar)
This state needs to improve the condition(s) for commerce and small business job creation, rather than try to recoup prior giveaways and special tax deals to favored companies or industries.
AN ACT BEYOND the PROPOSED CLAWBACK BILL:
(MAKING MA COMPETITIVE FOR NEW JOBS) Docket #01921
&
AN ACT TO REDUCE SPENDING AND FUND RESPONSIBLE TAX CUTS Docket #01922
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SUMMARY of LEGISLATION:
- This Economic Plan aims to improve the condition(s) for new commerce and small business job creation in the Commonwealth, rather than try to recoup prior giveaways and special tax deals to favored companies or industries – which may have filed for bankruptcy, or not fulfilled promises re: number of new MA jobs created.
- Dean’s bill lowers the MA personal and/or corporate income tax rates closer to 5% regardless if entities are S Corporations, Limited Liability Corporations, etc. He seeks to simultaneously close corporate tax loopholes, including direct subsidies, grants, credits or allowances in a host of state agencies and programs.
- The Bill implements PAYGO language that requires any tax reductions be tied to corresponding savings with the closing of loopholes and special giveaways.
- Freezes all new business regulations imposed on MA small businesses for a period of 36 months.
- Enacts immediate pension reforms such as capping annual amounts and a phased in increase of the state’s retirement age for NEW workers.
- Allows for exemptions for military, police and fire employees – as defined by separate legislation, which would include specific parameters for those public employees classified as military or first responder personnel.
- The General Court shall adopt a 2 year state fiscal budget (or allocations) to assist city/towns or schools with local budgeting that too often must wait for the actual levels of State Aid and/or Lottery proceeds appropriated in any one SFY.
- Establishes Bipartisan Commission to examine feasibility for the closing of additional MA tax loopholes and corporate welfare programs or subsidies to assist in the implementation of rate reductions.
- Directs the Governor to institute a state hiring freeze through SFY 2016.
- Enacts municipal health care reform.
