The Federal Tax Reform Act’s cap on deductions of state income taxes has turned Proposition 80 into an economic time bomb for Massachusetts

This report finds that recent passage of the federal tax overhaul legislation will exacerbate the negative economic impact of Proposition 80, the proposed constitutional amendment scheduled to appear on Massachusetts’ November ballot that would add a 4 percent surtax on annual taxable income over $1 million.

Download Report: The Federal Tax Reform Act’s cap on deductions of state income taxes has turned Proposition 80 into an economic time bomb for Massachusetts