AARP Supports Tax Reform Package; Urges Gov. Healey to Sign Bill

AARP Massachusetts is urging Gov. Maura Healey to sign a long awaited $1 billion tax reform package. The legislation would help thousands of Massachusetts residents 65+. AARP has sent a letter to the governor backing the proposal. Both the Massachusetts House and Senate have passed the bill.

“This bill will go a long way towards supporting the Commonwealth’s older residents, their families and the Bay State’s 780,000 family caregivers.” Sandra Harris, AARP Massachusetts State President, stated in the letter.
The legislation includes several provisions AARP has advocated for over the past few years:

• Increasing the tax credit for a dependent child, disabled adult, or senior from $180 to $310 in taxable year 2023, and then to $440 in taxable year 2024 and beyond, per dependent, while eliminating the child/dependent cap.
  
• Doubling the Senior Circuit Breaker Tax Credit from $1,200 to $2,400 to lower the overall tax burden for more than 100,000 taxpayers age 65+, with low income, who own or rent residential property in Massachusetts as their primary residence.
  
• Increasing the rental deduction cap from $3,000 to $4,000, impacting approximately 881,000 Massachusetts renters.
  
• Increasing the Earned Income Tax Credit from 30 to 40 percent of the federal credit, helping 396,000 taxpayers with incomes under $57,000.
  
• Increasing the Senior Property Tax Volunteer Program maximums from $1,500 to $2,000 so municipalities may allow for certain seniors to reduce from their property tax by participating in the senior work-off program.

“These measures help lower and middle-income residents and their families to have increased health and financial security and facilitate their ability to age with dignity in their own home and community.” AARP State Director Mike Festa said in the letter.

The Governor has until Sunday, Oct. 8 to act on the bill. She could choose to amend and send back to lawmakers

Read the letter here