When Will MA Residents Get Some Extra MOOLAH, MOOLAH, MOOLAH?
All this talk from the Bay State's capital is ongoing as residents are waiting with bated breath to receive some extra surplus money that is waiting to be delivered. Chapter 62-F was implemented back in 1986, but reports indicate those who are of a higher tax bracket could see an extra $6,500 come back into their pockets. Let's face it: How many people are actually making $1 million a year? I can guarantee it's NOT you OR me and this is why some representatives are being vocal about how unfair this procedure is being implemented.
Critics have been adamant as this measure ONLY tailors to higher income residents leaving low income earners a very thin slice of this monetary pie as they best describe this in one word: "Insignificant". Cambridge Representative Michael Connolly has filed a motion on Wednesday to re-tool this practice as excess tax collections would be re-administered on a proportional basis equivalent to the actual income tax that was paid.
This translates into a $22,000 refund for the rich, while low income workers could ONLY get $9 back from Boston. That would NOT assist those going through economic hardships as this refund would not even fill up their gas tanks these days. Again: UNFAIR and UNJUST as the wealthy prosper once again, leaving those who really need the boost out in the cold. Let's get with the program as "I am mad and will NOT take this anymore" (Yes, I am borrowing a classic line from the late, great Peter Finch in the Oscar winning 1976 film, "Network")
There is another caveat in this matter: Bay State Democrats cannot tend to change the guidelines of Chapter 62-F as only one objection will stall any progress on this measure which was approved by Governor Charlie Baker. The first checks will be distributed next month, but there is an option to tweak this procedure in the coming years. We'll keep you posted on the latest developments.
(Some information obtained in this article, courtesy of Boston 25 News)