BOSTON — A proposal to cut the state’s income tax rate would save taxpayers an average of $1,250 a year, but would force the state to make deep cuts to offset the loss of revenue, according to a new report.
Inching toward the Nov. 3 ballot is a proposal by the Massachusetts High Technology Council, Pioneer Institute and other groups to gradually reduce the state’s flat personal income tax rate from 5% to 4% over three years beginning on Jan. 1 2027.
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