BOSTON, Mass. (WWLP) – State lawmakers are looking at the way you’re taxed, and how that money should be spent.
The legislature’s Revenue Committee heard testimony on 43 bills Tuesday, including one that would offer budding tech companies a tax break. State lawmakers are considering a bill that would offer high tech companies headquartered in struggling regions a tax credit to compete with those in the Greater Boston area.
State Sen. Eric Lesser, (D) Longmeadow said, “If you’re a young entrepreneur getting started in Lawrence, or in New Bedford or in Springfield, you’ll get that second look from the venture capitalists, from the investors.”
To make sure the state doesn’t lose too much money, the bill would limit the total tax credits to $5-million.
Supporters of the bill hope that the tax incentive will bring more businesses to areas, such as Chicopee, Holyoke, Springfield and Westfield, cities that lag in terms of educational achievement and income.
Another bill up for debate would offer relief to those who don’t want their state income tax spent on abortions.
Eva Murphy from Massachusetts Citizens for Life said, “All life is precious and that every child, no matter what the circumstances of this unborn child being aborted are – we don’t want this happening in Massachusetts.”
One state lawmaker argued the state has many different revenue sources, and that it would be difficult limit the way that money is spent.
Before the bills can reach the House floor for a debate, the Revenue Committee must decide whether to approve or reject the legislation.