Governor Baker Signs Earned Income Tax Credit Increase for Working Families
Over 400,000 to benefit from 50% increase in EITC
BOSTON – Today in a signing ceremony at the State House, Governor Charlie Baker was joined by Lieutenant Governor Karyn Polito, Senate President Stan Rosenberg and stakeholders to enact a fifty-percent increase in the Massachusetts Earned Income Tax Credit (EITC) for over 400,000 working individuals and families in the Commonwealth.
“Since day one, Lieutenant Governor Polito and I have been clear about our priorities to make Massachusetts great and extend the benefits of a growing economy to more individuals across the Commonwealth,” said Governor Baker. “Today we are proud to deliver critical tax relief for over 400,000 hardworking individuals and their families who drive economic development and growth in the Commonwealth. I’m grateful for the leadership of Senate President Rosenberg and Speaker DeLeo who along with their colleagues, worked with us to increase a tool as effective as the Earned Income Tax Credit in support of our families who need it most.”
The bill signed today increases the Massachusetts Earned Income Tax Credit (EITC) from 15% to 23% of the federal EITC, extending the maximum state credit from $951 to $1,459 and meaning as much as $500 in additional support for those who are eligible.
“Expanding the Earned Income Tax Credit to provide greater tax relief for 400,000 working individuals and families is an important step toward economic growth and building stronger communities in Massachusetts,” said Lt. Governor Polito. “It has been an honor to work together with the legislature to get this done and put more money back into the hands of those who can use it most effectively to support their families.”
"Massachusetts is a very prosperous state and with today's signing of the expansion of the Earned Income Tax Credit, we are helping the hard working families of our state share in that prosperity. This measure gives a tax break to those who need it the most while helping us address the growing problem of income inequality," said Senate President Stan Rosenberg (D-Amherst). "I am pleased to have worked with the Governor, the Speaker, and my colleagues in the Senate to make this a reality today."
“Increasing the Earned Income Tax Credit will strengthen the Legislature’s existing efforts to close the income gap and provide unrivaled support for hardworking families," said Speaker Robert A. DeLeo (D-Winthrop). "It is my belief that these changes will reinvigorate our work to achieve economic equality. I thank the Baker Administration, Senate President Rosenberg and my colleagues in the Legislature for their insight and commitment to citizens of the Commonwealth.”