Massachusetts coalition wants to raise corporate tax to 50%, use $1.2 billion of rainy day funds

Raise Up Massachusetts, a powerful union-backed coalition, is launching a series of town hall events across the state – beginning here in New Bedford – to advocate for new tax and spending measures aimed at generating about $1.6 billion to offset looming federal cuts in Medicaid, food aid, and nutrition programs.

As the site of the inaugural town hall, New Bedford and the surrounding area stand to benefit directly from the coalition’s initiatives, which could secure funding to prevent local hospital and community health center closures, avert school layoffs, and alleviate economic pressures on families and students in this region.

These cuts they fear could lead to hospital closures, teacher layoffs, increased student debt burdens, and hardships for families and seniors. The coalition’s proposals include raising the state’s corporate tax on offshore profits from 5% to 50%—targeting companies like Apple, Amazon, McDonald’s, and Walmart—to yield $400 million annually, building on their successful 2022 “fair share” surtax on high earners.

Raise Up Massachusetts Facebook photo.

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