Anyone have any information or a clearer idea on this tax refund stuff?

Submitted by your_city_councilor t3_y863vu in massachusetts

I read this article in the Worcester newspaper, and it sounds like we're getting a big tax windfall, but it's sort of confusing: Baker is saying one thing, making it sound as if the money is certainly coming, while the Legislature is saying another. I went to the calculator they provided, and it looks like I could be getting a lot of money back...but then the legislator quoted is saying they don't want it to go through; it's Voodoo Economics (making me feel nostalgic for the 1980s...guess I need to watch some Stranger Things).

Anyone have any idea?

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nattarbox t1_isydls1 wrote

No idea but I like what that calculator is telling me

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wolf95oct0ber t1_isykuag wrote

What are the dates are the articles you see for legislator not wanting it to go through? I think this debate was resolved. Are those articles older?

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LegisLAYshun t1_isym1e7 wrote

One of the issues is likely that there are two different things being discussed:

  1. The Chapter 62F rebate, and
  2. The economic development bill the legislature passed that included permanent tax changes and a rebate program.

The first item (62F rebates) will happen. The second (economic development bill) will not, unless something significant changes.

The spending in the economic development bill, including the tax changes and rebate program, was predicated on the surplus that has now been diverted to make the 62F rebates possible. Both chambers passed a version of that bill, but they were not reconciled in time to pass a final version. The legislature would have to resume formal sessions in order to pass a final version of the economic development bill, but it would be significantly smaller than the versions previously passed by the House and Senate, and would likely not include the tax changes or rebate program.

Rep. Belsito's statement was an opinion on Chapter 62F and doesn't change if or how the 62F refunds will be disbursed. So there will be a 62F refund, though I can't comment on the timing (the administration has said November) or accuracy of the estimate calculator one way or another.

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AverageJoe-707 t1_iszqu14 wrote

To avoid disappointment always assume the government is not going to send you free money. Then, if they do you can celebrate.

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