The MCCC endorses the bill “An Act to Invest In Our Communities”

Massachusetts House Bill 2553 (Representative Jim O’Day) and Senate Bill1416 (Senator Sonia Chang Diaz) are entitled “An Act to Invest in Our Communities”

This law would profide mechanisms to raise $1.3 billion in revenue to help protect and preserve our communities and public services from the impact of significant anticipated budget deficits by

• increasing the income tax rate to 5.95% while increasing the personal exemption to minimize the impact on middle income families and
• establishing an 8.95% rate on capital gains and dividends and interest income providing a $7,900 exemption for senior citizens whose incomes do not exceed $40,000 for individuals and $80,000 for couples.

For more information:

Massachusetts Teachers Association Support

The Campaign for Our Communities

CFOC One-page Fact Sheet