Page 10 THE REVERE ADVOCATE – FRIDAY, JULY 22, 2022 BILL | FROM Page 2 425r Broadway, Saugus Located adjacent to Kohls Plaza Route 1 South in Saugus at the intersection of Walnut St. We are on MBTA Bus Route 429 781-231-1111 At this time, the state requires everyone to wear masks We are a Skating Rink with Bowling Alleys, Arcade and two TV’s where the ball games are always on! PUBLIC SKATING SCHEDULE 12-8 p.m. Sunday Monday Tuesday $9.00 Price includes Roller Skates Rollerblades/inline skates $3.00 additional cost Private Parties 7:30-11 p.m. $10.00 Price includes Roller Skates Adult Night 18+ Only Wednesday Thursday Friday Everyone must pay admission after 6 p.m. Private Parties Private Parties 4-11 p.m. Saturday 12-11 p.m. $9.00 $9.00 Everyone must pay admission after 6 p.m. Sorry No Checks - ATM on site Roller skate rentals included in all prices Inline Skate Rentals $3.00 additional BIRTHDAY & PRIVATE PARTIES AVAILABLE www.roller-world.com tree), who is the House Chair of the Legislature’s Joint Committee on Revenue. “We are also making permanent changes to our tax system that will provide over $500 million in relief every year going forward. I am proud to have worked with my colleagues to unanimously pass this unprecedented level of relief.” Earlier this session, the Massachusetts Legislature passed a bill appropriating $4 billion in ARPA and Fiscal Year 2021 surplus funds. Just over $1 billion remains in ARPA funds, which must be allocated by 2024 and spent by 2026. Taxpayer Energy & Economic Relief Fund Following $500 million worth of premium pay bonuses for low-income workers that were issued in March and June of 2022 under the Legislature’s Essential Employee Premium Pay Program, the economic development bill passed last week by the House includes one-time rebates of $250 for a taxpayer who fi les an individual return, and $500 for married taxpayers who fi le joint returns that will be issued before September 30, 2022. These rebates are expected to be issued to about two million Massachusetts residents who reported earning between $38,000 and $100,000 for individual fi lers, and between $38,000 and $150,000 for joint fi lers in 2021. The one-time rebates will not be subject to the state’s personal income tax. Permanent tax changes The bill passed last week makes signifi cant changes to the Massachusetts tax code to provide structural relief to millions of residents across all income levels. These include: • Increasing the Child and Dependent Care Credit from $180 per child to $310 per child, as well as eliminating the current cap of $360 for two or more children. This is expected to impact over 700,000 families. • Increasing the Earned Income Tax Credit (EITC) from 30 percent to 40 percent of the federal credit. This is expected to impact about 396,000 taxpayers with incomes under $57,000. • Increasing the Senior Circuit Breaker Tax Credit from $750 to $1,755. Currently, the Department of Revenue caps this credit at $1,170 due to cost-of-living adjustments over the $750 set in statute. Increasing it to $1,755 in statute is expected to impact over 100,000 taxpayers who own or rent residential property in Massachusetts as their principal residence. • Increasing the rental deduction cap from $3,000 to $4,000. This is expected to impact about 881,000 taxpayers. • Increasing the estate tax threshold from $1 million to $2 million and eliminating the “cliff ” eff ect which would tax just the value of the estate that exceeds $2 million, not the entire estate. This is expected to impact about 2,500 taxpayers. Online Lottery To raise revenue for early education and care, Representatives adopted an amendment that would allow the Massachusetts Lottery to sell some of its products online. The new revenue collected from online sales will go to prizes for winners, for the administration and operations of the lottery and to fund an Early Education and Care Fund. Revenue for the new Early Education and Care Fund would be used to provide long-term stability and develop a sustainable system for high-quality and affordable care for families. This will include signifi cant funding for subsidy reimbursement rates, workforce compensation rate increases, and support for state-wide early education and care initiatives. The amendment requires the Massachusetts Lottery to use age verifi cation measures to ensure that any users are over the age of 18. “House leadership’s eff orts to create a new sustainable funding source for Early Education through a new online state lottery revenue is not surprising, but rather is indicative of the House’s continued long-term leadership and commitment to the early education fi eld and the children & families we serve,” said the Executive Director of the Massachusetts Association of Early Education & Care, William Eddy. One-time targeted investments Some highlights: Health and Human Services • $350 million (M) for fi nancially strained hospitals • $165M for nursing facilities workforce needs • $100M for supplemental rates for human service providers • $80M for community health centers • $30M to support rest homes across the Commonwealth • $25M to address food insecurity across the Commonwealth • $15M for grants to reproductive rights providers for security, workforce and educational needs • $15M for grants to nonprofi ts and community-based organizations to address gun violence and gun violence–related trauma Environment • $175M for state parks and recreational facilities upgrades, with $25M for communities of color • $125M for environmental justice communities • $100M for marine port development • $100M for the Clean Water Trust Fund Economic Development • $300M for the Unemployment Insurance Trust Fund • $125M for small businesses, with $75M for minorityowned businesses • $50M for broadband investments in underserved communities • $75M in grants to hotels across the Commonwealth that saw fi nancial losses during the pandemic Housing • $100M for the Aff ordable Housing Trust Fund • $75M for minority-owned housing development Bonding The House bill also includes $1.26 billion in bond allocations to greater support the economic growth and stability of the Commonwealth. Some highlights: • $400M for the MassWorks Infrastructure Competitive grant program to support municipalities and other public entities to support and accelerate housing production • $200M for the Technology Matching Grants program that supports various organizations to help compete for federal innovation grants • $95M for ADA compliance projects • $73M for the Housing Stabilization and Investment fund.
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