#2023-19, August 25, 2023

Governor Healey, Senate President Spilka: Tax Relief Bill Expected This Year

Earlier this week, Governor Maura Healey (D – Arlington) and Senate President Karen Spilka (D – Ashland) said they expect a compromise tax relief bill to be signed into law before the end of 2023.

As noted in the last Beacon Hill Report, the Fiscal Year 2024 budget set aside roughly $580 million for possible tax relief legislation. The tax packages passed by the House and Senate, respectively, contain several major policy differences on which legislators continue to negotiate in conference committee.

The Massachusetts Taxpayers Foundation has an analysis of the House and Senate tax packages and highlights the policies that require negotiation. To read the analysis, click here.

We will keep you posted on any developments going forward.

MBA and Small Business Administration (SBA): Meet the Lenders Webinar – August 29

On Tuesday, August 29^th at 10:00am, the MBA and SBA will host a FREE online webinar that will connect small businesses and SBA-approved lenders in Massachusetts. This is a perfect networking opportunity whether you’re a bank looking to learn more about SBA-approved lending, or a new business looking to expand your access to funding.

The event will feature speakers from MBA member banks with extensive experience in SBA lending to be announced soon. Our forum facilitators from the SBA will be Dan Martinello, Lisa Welch, and Diane Darling.

Sign-up today and invite your business clients and prospects from your local communities to attend as well.

Update: Beacon Hill Report

August is typically a slow month at the State House as legislators conduct business in their districts and with few formal legislative sessions scheduled. As such, there may not be a Beacon Hill Report each week. We look forward to being back in your email inbox on a weekly basis after Labor Day!

As always, don’t hesitate to reach out to us directly with any questions.