NEWS RELEASE
For Immediate Release: October 25, 2000
Contact: John Brockelman - (617) 338-2174
Howard Foley, Mass High Tech Council - (781) 890-6482
Mass. High Technology Council Blasts New
"No On 4" Ad
Mass High Tech Council says reducing state
income tax burden
will attract and retain high tech jobs here in Massachusetts
The Massachusetts High Technology Council,
representing approximately 130,000 high tech, high-value-added jobs,
today blasted a new "No On 4" campaign ad saying that it
does not represent the views high tech businesses statewide. The Mass
High Tech Council board unanimously endorsed Question #4 on June 1,
2000. Question #4 would reduce the state’s income tax rate from
5.85% to 5% over 3 years.
The new "No On 4" campaign ad claims that
voting "Yes On 4" would hurt our high tech economy in
Massachusetts.
"Our board unanimously endorsed Question #4
because high tech business leaders from across the state know that one
of the keys to attracting and retaining good high tech jobs here in
Massachusetts is to have a competitive income tax rate," said
Mass High Tech Council President Howard Foley. "Massachusetts’
personal income tax burden remains among the highest in the nation.
Measured per capita, the Commonwealth places 5th among the
50 states, at almost twice the national average. When only state (and
not local) personal income taxes are considered, Massachusetts has the
highest personal income taxes in the country on a per capita basis and
second highest when measured as a percentage of personal income."
"Furthermore, Massachusetts taxpayers have
invested more than six billion dollars in new state aid to improve
public education since 1993, and according to the latest figures from
the National Education Association, Massachusetts ranks 7th
in spending per student, $7,069 per elementary and secondary school
student," Foley added.
Foley also noted that an independent study
commissioned by MassINC and the Heinz Foundation found that the
state’s income tax burden has contributed to the high cost of living
in Massachusetts, which hurts high tech companies’ ability to
attract and retain jobs:
"…what is beyond dispute is that state
residents pay a considerably higher state income tax burden than their
average counterparts across the nation." (The Road Ahead:
Emerging Threats to Workers, Families and the Massachusetts Economy,
MassINC & the Heinz Foundation)
The Massachusetts High Technology Council is a
23-year old non-profit corporation comprised of business leaders of
high technology and high-value added service companies. The
Massachusetts High Technology Council represents companies employing
approximately 130,000 people across the state.
In addition to the Mass High Tech Council, the
Massachusetts Business Roundtable and the local chapter of the
National Federation of Independent Businesses representing over 10,000
small businesses statewide have endorsed Question #4.