FOR
IMMEDIATE RELEASE
September 15, 2022
CONTACT: Chip Ford, Executive Director
Today
State Auditor Bump
announced:
". . .
Since FY21 revenues had been $36,789,926,416, the operation of Chapter
62F caps allowable state tax revenues for FY22 at $38,871,154,62. The
collection of $41,812,654,358 in FY22 exceeds that cap by
$2,941,499,731. According to Chapter 62F, a return of this amount in the
form of a credit must be effectuated by the commissioner of DOR.”
Citizens for Limited Taxation thanks State Auditor Suzanne M. Bump for
her timely certification of the CLT tax cap refund (aka, Chapter 62F)
directly and without drama. We're sure that taxpayers of the
commonwealth will appreciate it as well when they receive their refunds.
"That
our tax cap has been dormant for over three decades until today shows
that it is working exactly as it was designed to do," said Chip Ford,
executive director of Citizens for Limited Taxation. "Our tax cap
was intended as an automatic release valve for when revenue surpluses
reach an unnecessary level, especially such an extraordinary level as
recently; it was meant as a check on unlimited taxation and
unsustainable spending growth."
"It's
unfortunate that our late-executive director Barbara Anderson, who
worked so hard for adoption of our 1986 ballot question (and so many
other tax reforms) is no longer with us to celebrate this success she
achieved for all taxpayers of Massachusetts," Ford added, "but I'm
confident she's up there joining us joyfully in spirit."
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