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Governor-Baker-Sign-EITC-Increase

It may be the first week of August and many might be on vacation, but Governor Charlie Baker and his signing pen have been active bringing tax relief to working families and consumers in Massachusetts. On Wednesday, Governor Baker signed into law the first increase in the Earned Income Tax Credit (EITC) in 20 years, followed Thursday by the approval of the annual Sales Tax Holiday.

During a signing ceremony featuring it’s fair share of applause and flanked by Lt. Governor Karyn Polito, Senate President Stan Rosenberg, legislators, and stakeholders, Governor Baker enacted a 50% increase in the EITC, directly impacting more than 400,000 working individuals and their families in the Commonwealth.

The EITC is widely regarded as one of the most effective tools for putting more money back into the hands of people who need it most, and I’m proud that, working with the legislature, we were able to increase it by more than 50% to help our working families.

— Governor Charlie Baker

Increasing the Massachusetts EITC from 14% to 23% of the federal version could translate to as much as $500 in additional support for those who are eligible. That is a big deal for people who are working daily to balance their family’s budget. Though this increase is something to celebrate, the work goes on to reach the Administration’s goal of an EITC of 30% of the federal EITC, or double what it was when we came into office.

Less than twenty-four hours later, Governor Baker signed into law the annual Massachusetts Sales Tax Holiday, this year taking place on August 15th and 16th. The sales tax holiday gives consumers a much needed break while bolstering business across the Commonwealth for our hardworking retailers and small businesses.

A tax free weekend is a great chance to support our local businesses and save a few extra dollars, and we thank the legislature for their efforts to deliver this opportunity once again. We encourage folks to mark their calendar and help boost business in our state to support our economy.

— Lt. Governor Karyn Polito

2015 Sales Tax Holiday Signing, 8.6.15

Governor Baker was joined by Jon Hurst, president of the Retailers Association of Massachusetts, as well as Bill Vernon of the National Federation of Independent Businesses, Jerome Murphy of M. Steinert & Sons, and Harold Tubman of Circle Furniture.

Whether it is creating a lasting, impactful reduction in the taxes for low-income workers, or giving a boost to small businesses and consumers, the Baker-Polito Administration is committed to making Massachusetts a better place to live, work and raise a family.

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