State Senate Candidate Looking to Get Residents Back to Work

Democratic State Senate candidate Steve May has launched a three pronged effort to raise revenue and put BayStaters back to work. Elements of the plan released call for creation of a State Partnership Bank, raising an infrastructure bond and passing a 60-day income tax amnesty coupled with increased enforcement assets for the Department of Revenue.

“Without question the best way to create new revenues is to get people back to work," May said. "People spend when they have disposable income and are confident about their financial well-being...”

In issuing this plan: May argues that it his plan is measured and seeks to jolt the economy in the long term by creating institutions and policies which are simulative and provide a value added to taxpayers.

In the short-term, a tax amnesty incentivizes individuals to return money from abroad and settle with the department of revenue. At a moment of crisis, we need to bring monies back to the state. An amnesty would put an emphasis on revenue without being punitive. In a world where millions of dollars can be moved at the click of a mouse, 60 days is more than adequate. After the amnesty expires, all available resources should be brought to bear by the state on behalf of law abiding Massachusetts residents.

The tax amnesty and beefed up enforcement effort should provide added revenues to the state’s coffers. Raising an infrastructure bond and creating a state partnership bank, are large-scale systematic changes which will only make Massachusetts more competitive in the global economy, and provide dividends for decades to come. Taken in concert, these efforts will transform Massachusetts.

The above release was submitted by the office of Steve May.