Corean Reynold was recently appointed the Director of Nightlife Economy for the City of Boston, where she brings a wealth of experience and a passion for fostering an equitable and thriving nightlife ecosystem.
10/04/2023
6:00pm - 7:30pm
Roundhead Brewing Company
Don’t miss our upcoming Government Affairs Forum with Massachusetts State Treasurer Deborah B. Goldberg. Register now!
10/11/2023
9:45am - 11:00am
Bank of America
Learn about new ways of utilizing the professional apprenticeship model to create diverse, sustainable, and scalable talent pipelines.
10/12/2023
10:00am - 11:30am
Edenred
Designed for mid-level managers and supervisors, this new certificate program addresses workplace well-being through unique, innovative, and actionable methods.
Join our Transformational DEI Certificate! Our comprehensive learning & development offerings are designed to connect and grow strong leaders who lead both inside and out of the office.
Our Women’s Leadership Program enables you to take your leadership to the next level by arming you with the most in-demand leadership toolkit.
Our Boston’s Future Leaders (BFL) program provides emerging leaders with a socially conscious and civically engaged leadership toolkit, as well as the opportunity to apply their knowledge through experiential assignments.
Our Economic Inclusion Committee provides strategic support around research, policies, and programs that are focused on building equal opportunity.
We are developing an ecosystem of corporations and partners with the influence and buying power to transform economic inclusion for minority business enterprises (MBEs).
The Fierce Urgency of Now Festival brings Boston’s diverse young professionals together with business leaders, organizations and their peers to build connection, advance careers and ignite positive change.
09/12/2023 -
09/16/2023
Greater Boston
City Awake empowers young professionals in a variety of ways that encourages these rising leaders to stay invested in the region’s future success.
BIMA (the Boston Interactive Media Association) serves a vibrant community of like-minded professionals from agencies, brands, publishers, and ad-tech companies with business interests in the New England market.
For nearly 30 years, the Chamber’s Women’s Network has connected female professionals of all background and career levels. Today, our Women’s Network is the largest in New England, strengthening the professional networks of women each year.
The Massachusetts Apprentice Network convenes employers, training providers, and talent sources interested in developing and implementing apprenticeship programs in occupations across industries and statewide in fields such as tech, advanced manufacturing, healthcare, financial services, and more.
We support small business through public policy initiatives, events designed to connect small businesses in Greater Boston to their peers and established business leaders, professional development offerings, and free small business advising.
Explore our mission and values to better understand how we are leading the business community forward.
Our member directory is your resource to discover, connect, and engage with Boston’s businesses from every industry and sector.
March 28, 2023
Testimony of Greater Boston Chamber of Commerce President & CEO James E. Rooney
Joint Committee on Revenue
Re: H. 42, An Act Creating Tax Relief for Affordability, Competitiveness, & Equity
The Chamber supports the tax reforms in H. 42, An Act Creating Tax Relief for Affordability, Competitiveness, and Equity. With more than 1,200 members, ranging from sole proprietorships to the largest employers in the state, Chamber members employ hundreds of thousands of people in Massachusetts.
Importantly, and a key message today, is that this proposal should not be dismissed as a tax cut for the rich. In fact, it’s the state’s workforce that will benefit the most from building an inclusive economy so both business and people can start, stay, and succeed in Massachusetts. More than half of the tax change benefits those with dependents and housing costs. And, adjusting tax policies so Massachusetts is no longer an outlier makes the state more attractive to potential employers, entrepreneurs, and job creators.
Massachusetts is Ready for Proactive Tax Reform
Employers increasingly express the opinion that the state needs a renewed focus on competing for talent and business with other states.
We are well positioned to include proactive tax reform in our strategy to compete. The last three years of explosive revenue growth follow nearly a decade of steady growth. For FY24, the state is preparing a budget that is $13 billion, or 30%, more than it spent in FY2019. Nearly three-quarters into FY23, revenues continue to outpace the benchmark by $1 billion.
However, this growth won’t continue if we keep losing employees and employers and fail to acknowledge the new mobility of businesses and people.
Employees Are Leaving
From April 2020 through July 2022, 110,000 people moved out of Massachusetts to other states. Of the country’s 20 largest metro areas, Greater Boston has the smallest share of population under age 18. We rely on domestic and international migration to increase the state’s workforce but we are not keeping pace with the needs of our businesses and our economy – we are losing workers to other states.
Other States are Aggressively Pursuing Employers
Employees aren’t the only ones moving. Nationally, states are reducing or eliminating individual and/or corporate income taxes. On January 1st, 14 states reduced their personal income tax rate and 8 reduced their corporate tax rate. Massachusetts, on the other hand, is the only state in the country that increased income taxes on January 1.
The result is that employers are expanding or starting in other states, and employees are following.
Tax Reform Goals
The Boston Chamber worked with tax experts to develop a reform package, aspects of which are included in H. 42. We also worked closely with the Massachusetts CPA Society. Our package achieves several goals, including:
Support for H. 42
H 42 is a good starting point to achieve these goals.
By reforming the estate tax and reducing the short-term capital gains tax rate, the legislation addresses two policies where Massachusetts is a negative outlier for employers and job creators. We urge you to consider increasing the estate tax threshold to $5 million, which experts say is necessary to stem the outflow of residents and revenue.
The Chamber has long supported the additional $550 million in reforms that provide relief to residents in the form of an increased renter’s deduction, a higher senior circuit breaker tax credit, and a dependent credit.
In addition to the reforms in H. 42, I urge you to consider other proposals that we laid out in our tax reform recommendations: Reform the sting tax, income apportionment, who can carry forward net operating losses, and how much interest can be deducted for borrowing related to in-state investments. These reforms address the goals I laid out earlier, will help drive an inclusive economy, and ensure Massachusetts is a place to start, stay, and succeed.
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