By Bob Katzen
The House 29-127, rejected an amendment that would reduce the short-term capital gains tax from 12 percent to 5 percent.
Amendment supporters said this will help investors in Massachusetts keep up with mounting inflation. They asked why the capital gains or any tax imposed should be charged at a higher rate than earned income, especially considering the multi-billions in historic revenue surpluses.
Amendment opponents again said that this amendment is premature and urged the House not to act on tax reductions one at a time but instead to wait and consider Gov. Baker’s comprehensive tax reduction package which might be voted on in a few weeks.
(A “Yes” vote is for reducing the capital gains tax from 12 percent to 5 percent. A “No” vote is against the reduction).
Rep. Christine Barber No Rep. Mike Connolly No Rep. Erika Uyterhoeven No