State Senator Karen Spilka
HYANNIS – Massachusetts lawmakers have announced a plan for $500 million in tax relief for residents as the region continues to struggle with economic inflation rates and high fuel costs.
The plan includes credits for older residents, lower-income workers, and parents and those with dependents.
House Speaker Ron Mariano, Senate President Karen Spilka and Way and Means Chairs Aaron Michelwitz and Michael Rodrigues released a joint statement highlighting a need for the relief.
“House and Senate leaders have agreed to a framework of structural changes to our tax code that will reduce income inequality, make Massachusetts more competitive nationally, and lessen the crippling impact of rising prices, inflation and economic uncertainty,” said the lawmakers.
The plan joins other relief efforts including $250 direct tax rebates to individuals and $500 rebates for married couples.
Lawmakers in both the Senate and House said that in conjunction with the direct payments, the taxpayer relief package totals $1 billion.
“We look forward to ironing out the final details of the taxpayer relief package, bringing it tour members for discussion and debate, and ultimately adopting this critical legislation,” said lawmakers in the statement.
The current legislative session ends at the end of this month.
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