On Tuesday, March 31, I testified before the Massachusetts Ways and Means Committee regarding legislation to raise state revenue. Prior to my remarks, I listened to testimony from educators, students, social workers, healthcare professionals, and other stakeholders who shared compelling—and often deeply concerning—accounts of the impact that reductions to essential services would have on residents across the Commonwealth.
In my testimony, I emphasized that Massachusetts should not view its fiscal situation as one of scarcity. By nearly any measure, the Commonwealth remains one of the wealthiest economies in the world; if considered independently, it would rank among the top nations globally in per capita wealth. The central challenge before us is not a lack of economic capacity, but rather the equitable distribution of existing resources to ensure the sustainability of essential public programs.
Here is my testimony:
“ I respectfully urge the Committee to move the following revenue proposals forward:
- Prevent the state-level adoption of the Trump-era tax cuts in order to preserve approximately $463 million in critical state revenue.
- Pass the Massachusetts Corporate Fair Share Bill to ensure multinational corporations are taxed equitably. Currently, Massachusetts taxes offshore profits at just 5%, while four other New England states tax these earnings at 50%. Aligning our rate with theirs would generate an estimated $400 million in additional revenue.
- Allocate 15% of the state’s $8.6 billion Rainy Day Fund to support this year’s budget, providing approximately $1.2 billion in immediate resources.
Together, these proposals would generate nearly $2 billion in additional revenue—funding that is urgently needed to offset anticipated federal cuts.
Supporting these measures is a direct investment in the people of the Commonwealth. It means protecting public education from pre-K through higher education, and preserving essential services, including healthcare, senior support, and food assistance.
Without action, up to 350,000 residents could lose Medicaid coverage, and as many as 104,000 individuals could lose access to SNAP benefits due to federal cuts.
At this critical moment, we must prioritize the well-being of our communities over the disproportionate accumulation of wealth by large corporations and billionaires. These proposals offer a responsible, achievable path to generating the revenue we need—without forcing harmful cuts on those who can least afford them.”
