Tax relief: Reading Mariano’s tea leaves

Boston Globe attempts takes a stab at reading the tax relief tea leaves for its readers in an opinion piece:

During a question and answer period at the [Greater Boston] Chamber [of Commerce] event, Mariano said of the estate tax: “It’s pretty much assumed that you’re going to see that tin the [House] package.”

But he also indicated that several of the tax code changes would be phased in over multiple years to ensure that they do not “jeopardize the long-term financial security of the Commonwealth.”

Here the House approach gets exceedingly problematic. How many years? After all, state Senator Lydia Edwards of East Boston suggested during a hearing on Healey’s revenue bill that she’d like to see changes in the estate tax threshold phased in over five or 10 years.

Edward’s comments get to the heard of the real issue on Beacon Hill — political realities. Yes, even with a Democratic governor and an overwhelmingly Democratic Legislature.

This post is a part of Old Colony Law’s Estate Tax Updates.