By SCOTT JACKSON
The leaders of the Massachusetts legislature on Thursday announced they have struck a deal to provide eligible taxpayers with a one-time economic-relief tax rebate.
The rebate will be worth $250 for taxpayers who filed as individuals and $500 for married taxpayers who filed joint returns.
House Speaker Ronald Mariano (D-Quincy) and Senate President Karen Spilka (D-Ashland) announced the agreement in a joint statement along with House Ways and Means Chair Aaron Michlewitz (D-Boston) and Senate Ways and Means Chair Michael Rodrigues (D-Westport).
“Whether it is the rising price of gas, groceries, or summer clothes for kids, the Massachusetts Legislature has heard loud and clear that increased costs due to inflation have cut into family budgets. That is why we are proud to announce that the Massachusetts Legislature will act to establish the Taxpayer Energy and Economic Relief Fund, through which economic relief rebates for individuals and families will be issued,” they said in their statement.
“One-time rebates of $250 for a taxpayer who files an individual return, and $500 for married taxpayers who file joint returns, will be issued to eligible Massachusetts residents before September 30, 2022. Eligibility will be determined by annual income reported in 2021, with the minimum being $38,000, and the maximum being $100,000 for individual filers and $150,000 for joint filers.
“These rebates represent the Legislature’s commitment to delivering immediate financial relief directly to residents of the Commonwealth, rather than to large oil companies that continue to profit off economic uncertainty and international conflict, and follow our efforts to provide $500 in premium pay for lower income front-line workers during the pandemic. As we recognize the need for structural change as well, we continue to work on potential changes to the tax code with the goal of providing additional relief to residents.”