BOSTON (WWLP) – Top state leaders want to put more money in the pockets of low-income, working families. Governor Charlie Baker signed a law that will expand the Earned Income Tax Credit. The tax credit benefits 415,000 Massachusetts families struggling to make ends meet.
Senate President Stanley Rosenberg (D-Amherst) said the program is “providing them, these hardworking families, the opportunity to do just a little better through the tax code.”
The tax break is adjusted based on income and family size. It benefits the working poor by reducing the amount of taxes they owe.
Governor Charlie Baker told the crowd that it’s not every day you can do something nice for more than 400,000 people. The bill expands the Earned Income Tax Credit from 15 percent to 23 percent of the federal level. Eligible families could receive as much as $1,459 through the program. While it’s a good first step, Baker doesn’t believe the tax credit goes far enough.
“I consider today to be half of what we need to do on this one,” he said.
Baker said he’d like to expand the tax break all the way to 30 percent of the federal level. The Massachusetts Earned Income Tax Credit was put in place forty years ago.