“It
is important that we do not forget the taxpayer as we develop strategies to
stimulate economic development in the Commonwealth. Just as important as
providing funding for grants and programs is ensuring that working families and
small businesses get the opportunity to retain and invest more of their earnings
in creating jobs and bolstering the economy. Despite the fact that
several key opportunities to confront the costs of doing business in
Massachusetts were lost during today’s debate, the bill that was passed does
contain some important measures to use tax relief as a powerful tool to produce
gains for our economy, including those which:
• provide
a two day sales tax holiday in August;
• strengthen
and modernizing the state’s Research and Development Tax Credit; and
• improve
the usefulness of the Historic Rehabilitation Tax Credit for projects in
transition.
While
these are positive steps, the conclusion of today’s debate leaves us with much
more work to do to reduce or eliminate the costs of, and impediments to, job
creation and economic growth if we are to secure robust and lasting economic
recovery as we emerge from one of the longest and most difficult recessions our
state and nation have ever faced.”
