Democratic Senator Jeanne Dietsch of Peterborough aimed to ease the burden on property poor communities that struggle to pay for education.
Her plan would have extended the 6.2 % withholding on income up to $132,900 for Social Security to wages earned above that, and directed the money – some $300 million -- towards reducing statewide property taxes.
The proposal was estimated to impose what amounts to a new tax on income on about 42,000 people, that’s about 6 % of state wage earners.
Backers of the plan said it would provide schools with a needed boost, but the Senate committee made short work of the idea.
“So we move inexpedient.”
“Is there a second? Yes.”
“All those say aye.
“Aye.”
“The motion carries.”
While Finance Committee members from both parties panned the bill as an income tax, supporters say it was a sincere effort to address school funding pressures.
