Although Massachusetts has entered the second phase of the Governor’s controversial reopening plan, the economic toll of COVID-19 is far from over.

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Dear allies,

Although Massachusetts has entered the second phase of the Governor’s controversial reopening plan, the health and economic toll of COVID-19 is far from over. As dozens of Massachusetts economists recently argued ([link removed]) , we must act at home to maximize new, progressive revenue to protect the health and economic wellbeing of our people, our communities, and our state. That means that corporations and wealthy individuals must pay their fair share.

We can fight corporate greed and prioritize public health and the public good.
Two bills currently ([link removed]) in the Joint Committee on Revenue, Senator Tarr’s S.1775 and Representative Poirier’s H.2607, would extend the “Single Sales Factor” tax break to all corporations in the state. At a time when Massachusetts needs to fund emergency pandemic needs and replace lost revenue, a corporate tax break that could cost $67 million ([link removed]) annually would be disastrous. In fact, giving mutual fund companies this tax break has cost Massachusetts about $3 billion since 2011.

Supporters of these bills say that expanding SSF will create more jobs, but we know that they are wrong. Fidelity Investments, which already benefits from the SSF tax break for the mutual fund industry, has
thousands fewer Massachusetts employees today ([link removed]) than when it first received the tax break in 1996.

We need our legislators to know that Massachusetts residents do not support this measure to line the pocket of wealthy corporations as our working families are suffering. For more information on the Single Sales Factor tax break,
click here ([link removed]) , and please take two minutes to email ([link removed]) members of the Joint Committee on Revenue urging them not to advance Senator Tarr’s S. 1775 or Representative Poirier’s H.2607 out of committee.

In Solidarity,

Community Labor United


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