Several Massachusetts residents expect tax and housing credits under a $590 million tax relief package plan.
Eligible Massachusetts Residents Will Expect Tax Credits and Housing Credits Increase
Eligible Massachusetts residents expect an increase in tax credits and housing credits under a total of $590 million new tax relief package, which will greatly help several taxpayers, including low-income families in the state.
The tax relief package proposed to reduce estate tax by limiting the child credit to give tax relief to several Massachusetts residents, who will also expect up to a $4,000 rental dedication cap and housing credit increases if the proposal passes the Senate.
According to Sentinel and Enterprise, the tax relief package plan will focus on providing relief to eligible Massachusetts residents, especially working individuals and low-income families, seeking tax relief to benefit them and meet their basic needs.
READ ALSO: Massachusetts Taxpayers Will Receive Relief Under $586 Million Tax Relief Package
Proposed Tax Relief Package for Massachusetts Residents Received Mixed Reactions Following Pandemic
Despite several supporters claiming that the proposed tax relief package will provide the necessary relief to several Massachusetts residents, there are other individuals who expressed their disagreement with passing the plan.
Several individuals who opposed the tax relief package for Massachusetts residents also claimed that it was not the right timing to pass the plan as the state still tries to cope with the impact of the COVID-19 pandemic.
READ ALSO: $55.9 Billion Budget Proposal Approved In The Senate In Massachusetts
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