Tax & Budget News

MASSPIRG praised the recommendations of the Special Commission on Corporate Taxes to close tax loopholes, and opposed attempts to link the reform to lowering of the overall corporate tax rate.

Companies with immediate past histories of shoddy work and fraudulent practices still receive billions of dollars in federal contracts, according to a new report by the MASSPIRG Education Fund.

With Governor Deval Patrick signing the Tax Fairness Bill to close corporate tax loopholes today, a majority of the U.S. economy has now adopted a tax reform that was still considered controversial only a few years ago.

Last night, the Massachusetts Senate overwhelmingly voted, 31-6, to pass the Tax Fairness bill to close three corporate tax loopholes, preventing large multi state companies from avoiding over $400 million a year in state taxes.

On March 3, 2008, an Appellate Tax Board, the state board responsible for interpreting Massachusetts tax laws, ruled in favor of closing the Telecom Loophole by allowing cities and towns to tax telephone poles and wires over public ways, a decision MASSPIRG is praising.