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Rep. Larry Sakowitz introduces short-form H.732 to raise marginal rates on high earners and target homestead relief
Summary
Rep. Larry Sakowitz (Randolph) presented H.732, a short-form bill proposing 1% marginal increases for couples above $400,000 and an additional 1% above $800,000 (with half rates for individuals), intended to funnel revenues to income-sensitive property-tax relief for qualifying homestead properties.
Representative Larry Sakowitz introduced H.732 to the Ways & Means Committee as a short-form proposal to increase marginal income-tax rates on very high earners and direct the proceeds toward targeted relief for homestead property owners.
"My bill is very, very simple, and it's simple on purpose," Representative Larry Sakowitz said. He described the measure as an initial concept that…
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