MassLive reports on Senate Republicans’ message to Governor Healey on her forthcoming tax relief package as it relates to the estate tax:
Days before Gov. Maura Healey releases her highly anticipated first budget and an accompanying tax relief package, Senate Republicans have urged the new Democratic leader to pursue a series of permanent tax code changes to help Bay Staters struggling with steep costs of living in the commonwealth.
Many of the changes, including expanding the child tax credit and overhauling the estate tax credit, reflect the proposal that former Gov. Charlie Baker championed last year, as well as similar efforts both legislative chambers had passed.
And as for Senate Republicans’ specific proposal:
They also requested that Healey double the estate tax threshold from $1 million to at least $2 million and remove the cliff effect that taxes the entire value of the estate.
This post is a part of Old Colony Law’s Estate Tax Updates.