Wednesday, September 28, 2011

Chamber to Engage with Tax Expenditure Commission

The FY’12 state budget created a state government-led commission to evaluate and make recommendations on the fiscal impact of state tax, credits, deductions, and exemptions and related policies by April 31, 2012.  Among the issues to be considered by the commission are the public policy objectives behind the grant of any tax expenditure, the metrics for measuring success in meeting those objectives and potential additional reporting, sunset or clawback provisions. 

The Chamber has worked closely with state leaders in recent years to create a more competitive and predictable tax climate for employers.  This has included working to preserve and improve the long-standing tax policies and incentives that drive employment, capital investment, and expansion decisions in the state.  This has also included working to curb far-reaching proposals requiring the disclosure of confidential, proprietary information for companies doing business in Massachusetts.  Such considerations must factor heavily into any evaluation of state economic development policy in order to sustain a lasting economic recovery in Massachusetts.  As such, the Chamber will actively work with the commission in the coming weeks and months to ensure that its work reflects the perspectives of the employer community and the need for a competitive business tax climate.

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