Massachusetts House of Representatives Passes $4.2 Billion Economic Development Bill
(BOSTON) - This week, Representative Joan Meschino (D-Hull) joined her colleagues in the Massachusetts House of Representatives to pass an economic development bill, which utilizes American Rescue Plan Act (ARPA) funds, Fiscal Year 2022 (FY22) surplus funds, and bonds to make significant investments across several vital sectors of the economy, and to give back to low and middle-income residents in Massachusetts by providing one-time rebates and significant tax relief beginning in 2023. Funded at $4.2 billion, the legislation addresses disparities exacerbated by the COVID-19 pandemic through one-time investments in health and human services, the environment and climate mitigation, economic development, housing, and food insecurity. Earlier this session, the Massachusetts Legislature passed a bill appropriating $4 billion in ARPA and FY21 surplus funds. Just over $1 billion remains in ARPA funds, which must be allocated by 2024 and spent by 2026. “The targeted investments and tax relief included in this legislation will . . . Read More