See Your Own Tax Bill Under Patrick Budget Plan
In an effort to further promote his proposed $ 34.8 billlion budget, Gov. Deval Patrick this week rolled out an online tool that would help families see the effect his plan would have on their bottom line.
The tool was released less than a week after Patrick unveiled 400 online maps showing what each district would receive in transportation and education benefits under his tax plan.
“We are proposing meaningful investments in education and transportation, and people want to know what that means for them,” Patrick said. “Last week, with the maps, we showed what long-postponed projects would get done in each community. Now, with this tool, we show just what the costs or savings will be for individual households.”
The program not only lets users enter their income information to see how their tax bill would change, it also allows them to develop their own tax reform proposal and see how it would alter their net income.
The administration claims that about half of Massachusetts taxpayers will see a reduction in their tax burden, or come out the same, under Patrick’s proposal, which is marked by an increase in the income tax from 5.25 percent to 6.25 percent and the end of 44 deductions combined with a reduction in the sales tax from 6.25 percent to 4.5 percent a a doubling of personal exemptions.
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