Patrick Files $34.8 Billion Budget Proposal Wednesday
Governor Deval Patrick's plan focuses on investments in transportation and education while calling for an income tax increase coupled with a lower sales tax.
In submitting his $34.8 billion budget to the Legislature Wednesday, Patrick said the proposed income tax hike is part of a comprehensive package aimed at investing in the state's infrastructure and in driving growth. The proposal asks for an increase in the income tax from 5.25 percent to 6.25 percent coupled with a reduction in the sales tax from 6.25 percent to 4.5 percent. It also doubles personal exemptions. Despite the proposed income tax hike, Patrick says that low and modest-income workers will pay less in taxes under his proposal, and only the "more fortunate see a larger increase." "I do not submit this proposal lightly. I understand that many households in Massachusetts continue to struggle from the impact of the Great …
JT
1:44 am on Friday, January 25, 2013
This is typical of the Tax-achusetts mentality on Beacon Hill. ALL the people of MA do NOT want higher income taxes regardless of whether the sales tax is lowered or not. This governor's philosophy is flawed at best and destructive to jobs AND everyone struggling in this continually dismal economy at worst. BTW, he's not only proposing tax hikes to pay for his "investment" (spending) policies. He… more ›