THE MALDEN ADVOCATE–Friday, October 6, 2023 Page 5 Malden delegation joins colleagues in passing bipartisan tax relief bill to help working families and seniors O n September 28, 2023, State Senator Jason Lewis and State Representatives Steve Ultrino, Kate Lipper-Garabedian and Paul Donato joined their colleagues in the Massachusetts Legislature to overwhelmingly enact a bipartisan tax relief package to help make living in Massachusetts more aff ordable for working families and seniors and to bolster our state’s economic competitiveness. An Act to improve the Commonwealth’s competitiveness, affordability, and equity phases in a series of tax reforms expected to provide $561 million in taxpayer savings in the current fi scal year and grow to approximately $1 billion in tax relief by fi scal year 2027. The Senate and House both passed their versions of the bill earlier this year and reconciled differences in their versions before enacting the bill. The bill is now on Governor Maura Healey’s desk for her signature and/or other actions. The bill substantially increases the child and dependent tax credit, senior circuit breaker tax credit and earned income tax credit. The bill also reforms the Massachusetts estate tax by raising the threshold to $2 million and eliminating the current cliff eff ect. A number of housing production tax credits are also expanded to help spur the creation of more market-rate (in gateway cities) and aff ordable housing units. Jason Lewis State Senator Kate LipperGarabedian State Representative “The goal of this bill is to help low-income residents, working families, and seniors aff ord the high cost of living in Massachusetts,” said Senator Lewis. “Substantially increasing the child and dependent, senior circuit breaker, and earned inDELEGATION | SEE PAGE 20 JOHN MACKEY & ASSOCIATES ~ Attorneys at Law ~ * PERSONAL INJURY * REAL ESTATE * FAMILY LAW * PERSONAL BANKRUPTCY * LANDLORD/TENANT DISPUTES 14 Norwood Street Everett, MA 02149 Paul Donato State Representative Steve Ultrino State Representative Phone: (617) 387-4900 Fax: (617) 381-1755 WWW.JMACKEYLAW.COM SABATINO INSURANCE AGENCY 519 BROADWAY EVERETT, MA 02149 Auto * Home * Boat * Renter * Condo * Life * Multi-Policy Discounts * Commercial 10% Discounts * Registry Service Also Available Sabatino Insurance is proud to welcome the loyal customers of PHONE: (617) 387-7466 FAX: (617) 381-9186 Visit us online at: WWW.SABATINO-INS.COM
6 Publizr Home