How Would The New Tax Bill Affect Massachusetts?

BOSTON (WBZ-AM) -- The new GOP tax bill being crafted in Congress has many concerned about how Massachusetts taxpayers will be affected.

Eileen McAnnenny, President of the Massachusetts Taxpayers Foundation, is concerned that the tax cuts expected out of Washington will leave less federal tax revenue--and she says that could mean trouble here in the Bay State.

"For a state like Massachusetts who has a couple of sectors that are highly dependent on federal reveues, like health care and like higher education, that could be particularly troubling," she said.

She says she's concerned about the ripple effect of the bill on the state.

"In order to provide the federal tax cut that roughly will equal about $1.5 trillion, there has to be corresponding offsets in spending," she said.

In the short term, though, she expects there could be an immediate boost in one-time capital gains revenue next year, as she thinks many people have waited to sell assets until there's a change in the tax structure.

WBZ NewsRadio 1030's Carl Stevens reports

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