Gov. Patrick proposes overhaul of Mass. tax system
BOSTON (WHDH) --If the plan Gov. Patrick laid out goes through exactly the way he’s proposing it, Massachusetts drivers can expect to pay more every time they get into the car, from the fees at the RMV to the gas you put in the car and the tolls.
The plan is not about a one-time hikes - it specifies hikes every few years.
The changes Gov. Patrick is proposing:
-- 1 percent increase to 6.25 percent
-- 45 itemized deductions eliminated
-- Personal tax exemption doubles
-- Decrease from 6.25 percent to 4.5 percent
-- Revenue only goes to transportation to fund a $1 billion dollar a year gap in transportation budget
-- Gas tax would be tied to inflation.
-- 0.5 cent increase in July
-- By 2021 will increase from 21 cents to 24.6 cents
-- Generate $118 million in additional revenue
Fares, tolls & fees
-- MBTA: Five percent increase every two years beginning 2015
-- Tolls: Five percent increase every two years beginning 2015
-- RMV fees: Ten percent increase every two years beginning 2016
The governor is proposing a complete overhaul of Massachusetts’ tax system. He has been out selling the plan - but it is not a done deal. Lawmakers on Beacon Hill have to take it up and none of them are jumping up in support of this plan.