Mass AG Clears 21 Ballot Questions

Another minimum wage hike is only one of the 21 ballot initiatives covering 18 different topics that Massachusetts Attorney General Maura Healey advanced this past week toward the November ballot. At this point, the AG only certifies that the questions do not violate the state constitution, clearing the way for the proponents to go to…

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Cuomo Kills NYC Millionaire’s Tax

OK, he may not have actually killed it, but declaring it DOA in Albany is about as close to terminal as it gets. A few weeks back, New York City mayor Bill de Blasio endorsed the idea of increasing the city income tax on an individual making more than $500,000 ($1 million for couples) by…

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National Paid Leave Bill Filed

Legislation that effectively creates a voluntary national paid leave policy was introduced into both houses of Congress earlier this week. The legislation, entitled the Strong Families Act, would give a 25% tax credit to companies that offer between two and twelve weeks of paid leave to their employees. Filed by Republican Senator Deb Fischer (NE)…

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A Ballot Trifecta

SEIU-backed Raise Up Massachusetts is looking to score on a trifecta of issues on the coming November ballot as the group filed two petitions with the Attorney General by Wednesday’s initial deadline.  The two petitions include increasing the Massachusetts minimum wage to $15 per hour, and mandating up to 26 weeks of paid sick leave.…

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Congress Hears More on Paid Leave

President Trump’s daughter and key advisor, Ivanka Trump, was discussing paid leave with Senators this week, explaining changes that the administration would endorse in pending paid leave proposals. The current plan put forth by republicans would give employees the option to contribute tax-free dollars to a Parental Savings Account from which funds could be withdrawn…

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Massachusetts Sends Millionaire’s Tax to Ballot

In an unfortunate, but sadly not surprising move, the Massachusetts legislature, meeting in Constitutional Convention, gave final approval to a proposed amendment to the state constitution that would tack an additional 4% tax on incomes in excess of $1 million. The so-called Fair Share Amendment needed to secure 50 favorable votes from the 200 legislators…

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Senate Leader Files Depreciation Bill

Senator John Thune, the #3 ranking republican in the US Senate this week filed the Investment in New Ventures and Economic Success Today (INVEST) Act, which will simplify depreciation rules and reform key parts of the tax code allowing business owners to more quickly recover investment costs and other business expenses. The INVEST Act would…

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Trump Tax Reform

President Donald Trump released his plan to radically remake the tax code on Wednesday. According to initial media reports, the President’s proposal would slash the corporate tax rate, boost the standard deduction for individual taxpayers and eliminate the estate tax entirely. In addition, the plan would also repeal the Alternative Minimum Tax for individuals as…

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And On Taxes . . .

The state of Maine is looking seriously at amending a voter-approved ballot initiative that mandates an additional 3% surcharge from those with incomes over $200,000, an oxymoronic version of a “millionaire’s tax”. Anyway, already in this legislative session, five bills have been filed to amend the narrowly-approved measure and those bills, which run the gamut…

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Extending, Expanding New York Millionaire’s Tax

New York so-called “millionaire’s tax” was first adopted back in 2009 and renewed two years later in 2011. It is set to expire at the end of this year, so the effort has already begun – not just to extend the expiration date (another three year extension of the 8-year old tax), but also to…

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