REDUCE CAPITAL GAINS TAX FROM 12 PERCENT TO 5 PERCENT (H 4700)

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 that the state has..

Amendment opponents said to wait for Gov. Baker’s proposal.

(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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.