... Gov. Baker to speak at Mintz Levin pharmaceutical summit on May 8 ...... Student loan collection bill on Senate's agenda for Thursday ...... Senate supplemental budget (S 2481) likely to receive approval on Thursday ...... Judiciary Committee has until May 2 to vote on sexual harassment, drugged driving bills ...... Baker returns Garden of Peace proposal with amendment, cites constitutional concerns ...... Solomon McCown hosting May 1 panel on "Enlightened Leadership During This Cultural Reckoning" ...... Poll: nearly two thirds of U.S. adult citizens will stay away from polls for mid-term elections ...... Sabadosa to kick off campaign for House seat Sunday in Northampton ...... Scaccia: tax credits to "richest people" in film industry are denying state Treasury $818 million ...... Daily Show's Trevor Noah to perform at UMass Lowell on Oct. 5 ...... Baker, Walsh chairing Asian American Civic Association gala in Boston June 22 ...... Baker asks feds for longer lookback at driving records of commuter rail operators ...... AG Healey to address Greater Boston Chamber breakfast on Thursday morning ...... Eric Donovan of Dorchester is Baker's pick for clerk magistrate in Brighton court ...... Former Sen. Barrios pays $19,500 to General Fund to resolve campaign $$$ problems ...... Rep. Calter is latest to leave Legislature, will take town administrator's job in Kingston ...
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ANALYSIS: $7.5B IN FED DEDUCTIONS VANISHING UNDER TAX REFORM

By Michael P. Norton
STATE HOUSE NEWS SERVICE

JAN. 11, 2018.....Public policy debates often pivot on the value and impact of tax cuts and reductions, and the uncapped deduction for state and local taxes wiped off the books by the federal government in late December is a doozy in Massachusetts.

According to a new report from the Massachusetts Taxpayers Foundation, Bay State residents in 2015 were able to deduct from their gross income $19 billion in state and local taxes under the tax structure in place before Congress and President Donald Trump last month capped those deductions at $10,000 per year.

That means that about $7.5 billion in federal deductions taken by Massachusetts residents will no longer be available, according to a foundation analysis shared at the News Service's request. The analysis shows about a third of taxpayers will be affected, with the largest impacts felt among the wealthiest.


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