Left In Lowell

This came down from Progressive Dems (some bold is mine):

In a nutshell, the long-awaited loopholes bill is coming up for a vote this Tuesday (or possibly Wednesday or Thursday). We need you to call your Rep and Senator (and any others you have a relationship with) to urge their action on this bill. We are FOR the closing of the loopholes and AGAINST any reduction in the corporate tax rate.

Read the attached fact sheet prepared by the Coalition for Tax Fairness (of which PDM is a member) for more details and background.

If the two loopholes mentioned are closed, the Commonwealth will gain an ongoing revenue stream of $500 million per year. We need all of this money, and more, in a year when we are facing a deficit in excess of $1 billion. The Governor, following the recommendation of the Special Commission mentioned in the fact sheet, has proposed lowering the corporate tax rate from its current level of 9.5% to 8.3%. We OPPOSE this reduction; it would cost the state $200 million per year, giving back to business much of what would be recaptured by closing the loopholes!

Massachusetts is already among the 10 lowest-taxing states when in comes to businesses — they must pay their fair share of our needed infrastructure and workforce development costs!

To make matters worse, the Speaker has proposed lowering the business tax rate to 7.0%, which would effectively give away all the revenue gained. Obviously, we STRONGLY OPPOSE this suggestion.

Please do what you can to contact any Reps you have a good relationship with, between now and Tuesday. Many of them you may see at your caucus tomorrow. Others, you can call over the weekend if they have answering services, or better yet call on Monday and speak to them or a staff member; find out their position on this and convey that information to me.

Ask them to support the loophole closings, oppose the tax rate cut, and ask them to convey these feelings to their leadership!

Look, Sal DiMasi never met a tax cut for big business he didn’t like. He’s consistently agreed with the exceptionally conservative Greater Boston Chamber of Commerce. Some Democrat. What the hell is the point of closing a corporate tax loophole if you give away the revenues it generates to businesses? We have a low, low corporate tax rate in this state. A lower one isn’t going to attract the jobs we need, folks. But revenues to the state which help us invest in infrastructure, schools, transportation, and other areas will. One that closes our budget gap gives confidence to businesses that this state will remain fiscally sound. So, call your Rep and Senator. If you don’t know who that is, click here and get their information.