Monday, February 6, 2012

Chamber works with Tax Expenditure Commission to asses impact of tax breaks

The FY’12 state budget created a state government-led commission to evaluate and make recommendations on state tax, credits, deductions, and exemptions over the coming months. The Chamber has been working with the commission to ensure that its work reflects the perspectives of the employer community and the need for a competitive business tax climate.

On Monday, the Commission met and voted on a set of principles to guide their work over the next couple of months. In the State House News story below, Chamber EVP Jim Klocke was referenced:

Jim Klocke, the executive vice president of the Greater Boston Chamber of Commerce, said the Chamber was pleased to see a recognition of economic competitiveness included in the principles, as well as the importance of taxpayer confidentiality as it relates to public disclosure.

"We need to be mindful of the competitiveness issue all the time throughout this process. It has a big effect on business and jobs," Klocke said.

Klocke predicted the work of the commission would intensify in the coming weeks now that Gonzalez and his team have completed work on the governor's budget proposal for fiscal 2013.

"We all know how much revenue is associated with each tax expenditure, but the question of what kind of effects those have and how those are measured are the big questions that will come over the next few months," he said.


Read the complete State House article here: PANEL ADOPTS PRINCIPLES AS IT ASSESSES THE COSTS, IMPACTS OF TAX BREAKS

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