A PROMISE TO KEEP: 5%
A Ballot Committee of Citizens for Limited Taxation

 

National Federation of Independent Business

NEWS RELEASE

Small-Business Owners Overwhelmingly Support
Income Tax Rate Reduction


October 10, 2000
Contact:  Bill Vernon, 617-482-1327
               Mindi Boyagian, 202-554-9000

NFIB state director joins Governor Cellucci at press conference to offer group's endorsement of Ballot Question 4

NFIB/Massachusetts State Director Bill Vernon today joined Gov. Paul Cellucci at a press conference to announce the group's endorsement of an initiative that will appear on the November ballot to rollback the personal income tax to five percent.

In 1989, lawmakers temporarily increased the personal income tax rate. The initiative, which will appear as Question 4 on the ballot, proposes to gradually reduce the rate back to its original five percent level for the tax year 2003 and thereafter.

"Eleven years ago, the state faced a fiscal crisis and the income tax rate was temporarily increased as a remedy," Vernon said. "Well, the crisis is over. Lawmakers made a promise to Massachusetts' taxpayers when they voted to increase the tax. It's time to honor that promise."

A recent NFIB tax survey of its members found near-unanimous support (96%) for returning the personal income tax to its original level.

"The small-business community is united in its support for this ballot initiative," Vernon  said. "Small business is a powerful force and will make its voice heard on Election Day."

Vernon said the small-business support for the rollback is not surprising. "Small- business owners are directly affected by this tax," he said. "Most NFIB members in the state are not incorporated and therefore, as business owners, pay the personal income tax just like their employees.

"Returning the income tax to its original level will help protect the state's economic future by allowing taxpayers to grow their savings and providing business owners with more capital for investment and job growth."