Boston, MA

Provisions of the tax cuts package include:

Child and Family Tax Credit – Eliminates two-dependent cap and increases credit from $180 per dependent child, disabled adult, or senior to $310 for 2023 and to $440 on a permanent basis, starting in 2024. An estimated 565,000 families will benefit, and this will be the most generous universal child and dependent tax credit in the county.

Earned Income Tax Credit (EITC) – increases credit from 30% to 40% of the federal credit

Estate Tax – increases threshold from $1 million to $2 million with a credit that mitigates cliff effect

Short-Term Capital Gains – reduces rate from 12% to 8.5%Rental Deduction – increases cap from $3,000 to $4,000

Senior Circuit Breaker Tax Credit – doubles credit, indexed to inflation, which equates to an increase from $1,200 to $2,400

Single Sales Factor – shifts from three-factor apportionment system based on business’s share of sales, payroll, and property to apportionment based solely on sales

Low-Income Housing Tax Credit (LIHTC) – increases annual program cap from $40 million to $60 million

Housing Development Incentive Program (HDIP) – increases annual program cap from $10 million to $57 million in 2023, and thereafter to $30 million annually

Student Loan Repayment Assistance – exempts employer assistance for student loan repayment from taxable income

Dairy Tax Credit – increases annual program cap from $6 million to $8 million

Cider Tax Rate – applies lower tax rates to a broadened class of beverages

Lead Paint Abatement Credit – doubles credit to $3,000 for full abatement and $1,000 for partial abatement

Title V (Septic) Tax Credit – triples maximum credit to $18,000, increases percentage of eligible expenses from 40% to 60%; and allows taxpayers to claim up to $4,000 in any year, versus $1,500 in current law

Deductible Commuter Transit Benefits – adds public transit fares, RTA fares and bicycle expenses to deductible commuter expenses

Apprenticeship Tax Credit – expands eligible occupations

Municipal Affordable Housing Property Tax Exemption – permits municipalities to adopt local property tax exemption for affordable real estate

Property Tax Liability Reduction for Senior Volunteer Services – permits municipalities to increase the maximum property tax abatement available to seniors who perform volunteer services from $1,500 to $2,000

Stabilization Fund Cap – increases the cap on Stabilization Fund deposit from 15% to 25.5% of budgeted revenues

Really welcoming community here Boston. Downvote to oblivion two of the three commenters on this thread. How the heck is this space less friendly than the comments section on the Globe’s web site?

You didn't serious just call Healey conservative did you? LOL!

The "lowered" capital gains tax is still higher than most states. That very much proves she's not a conservative. People like you are hilarious. Rather than blaming people for doing EXACTLY what you knew they'd do, you blame people who are sucessful.

You'd rather have tons of discounts and write offs rather than not being over taxed in the first place, hilarious.

So rich people get their capital gains tax cut and estate tax cut and seniors (also a wealthy demographic) get increased circuit breaker tax credits. Poor people get higher renters tax credits. People with kids get more credits. Commuters on public transit get to write off more of their bills. And the rest of us who don’t have kids, have no public transit to our jobs, and have a mortgage get nothing.

Remember when the renter’s tax deduction was justified by there being a large deduction in federal taxes by homeowners? After Trump, I don’t get that write off anymore and neither do most middle class people. But the renters still get theirs. We just keep getting screwed.