Over 400,000 working individuals and their families in the Bay State got welcome news this week, when Governor Charlie Baker enacted a 50% increase in the Massachusetts Earned Tax Credit (EITC). The Governor was joined by Lieutenant Governor Karyn Polito, Senate President Stan Rosenberg and other stakeholders at the signing ceremony at the Massachusetts State House.
Governor Baker said, “Since day one, Lt. Governor Polito and I have been clear about our priorities to make Massachusetts great and extend the benefits of a growing economy to more individuals across the Commonwealth. I’m grateful for the leadership of Senate President Rosenberg and Speaker DeLeo who along with their colleagues, worked with us to increase a tool as effective as the Earned Income Tax Credit in support of our families who need it most.”
The bill increases the Massachusetts Earned Income Tax Credit (EITC) from 15% to 23% of the federal EITC, extending the maximum state credit from $951 to $1,459 and meaning as much as $500 in additional support for those who are eligible.
Lt. Governor Polito called the increase “an important step toward economic growth and building stronger communities in Massachusetts.”
Senate President Stan Rosenberg (D-Amherst) said the measure “gives a tax break to those who need it the most while helping us address the growing problem of income inequality.”
Speaker Robert A. DeLeo (D-Winthrop) said the increase “will reinvigorate our work to achieve economic equality.”