(BOSTON – 2/27/2023) Senator John Velis (D-Westfield) today applauded Governor Healey for including increases to the Child & Family Tax Credit, Senior Circuit Breaker Tax Credit, and Estate Tax Threshold in her tax relief proposal announced this morning. Senator Velis filed these reforms in his own bill, SD1368 An Act relative to providing tax relief, at the beginning of this legislative session and championed the reforms in the Senate’s Economic Development Bill last session.
“Since the Senate first took up these tax reforms last session, I have pushed and advocated to get them across the finish-line. That is why I filed legislation in the Senate this session and why I am thrilled to see that Governor Healey’s proposal reflects my priorities as well,” said Senator Velis. “I continue to hear from families and seniors throughout my district who are struggling to make ends meet. These increases to the Dependent Tax Credit, the Senior Circuit Breaker Tax Credit, and the Estate Tax, will provide real relief to so many folks and I look forward to working with the Administration and my colleagues to get these reforms signed into law.”
Just like Senator Velis’ bill, Governor Healey’s proposal increases the Child & Family Tax Credit for each family dependent, doubles the Senior Circuit Breaker Tax Credit for low-income seniors paying property taxes or rent, and increases the Estate Tax Threshold to ensure that heirs aren’t left paying an unfair “death tax” upon inheriting an estate.
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