Dear Editor,
Massachusetts is facing a critical moment. Federal budget cuts are threatening to devastate essential services — Medicaid, SNAP, education, mental health care, and more. These cuts could strip healthcare and food assistance from up to 350,000 residents, blow a $3.5 billion hole in our state budget, and harm over 1 million students. We must act now to protect our communities.
A powerful solution is the Corporate Fair Share Act (An Act Combating Offshore Tax Avoidance, H.3110/S.2033), a proposal that would raise over $400 million in new annual revenue by closing a loophole that allows billionaire global corporations to hide profits offshore and avoid paying their fair share in Massachusetts taxes.
Right now, Massachusetts only taxes 5 percent of these offshored profits — far less than neighboring states like Rhode Island, Vermont, and Maine, which tax 50–60 percent. The Commonwealth even taxes a smaller share of offshored corporate profits than New Hampshire does. The Corporate Fair Share Act would simply bring us in line with these states and the federal government, increasing our share from 5 percent to 50 percent.
This isn’t a tax hike on small businesses. In fact, only 0.5 percent of all C Corporations report any offshore profits. Most small businesses — LLCs, S-Corps, sole proprietorships — aren’t affected at all. This bill targets the wealthiest multinational corporations that exploit tax havens while our local businesses and families pay their fair share.
And here’s the truth: Massachusetts voters (of which 50 percent are Republican) overwhelmingly support this change.
- In an August 2020 poll by Echo Cove Research, 84 percent of likely Massachusetts voters supported closing the loophole that lets corporations slash taxes by hiding assets offshore.
- In an August 2024 poll by Data for Progress, 75 percent of Massachusetts voters agreed that the state corporate income tax should be updated to prevent multinational corporations from using offshore tax havens.
- In an April 2025 poll by Lake Research Partners, 78 percent of Massachusetts voters supported closing corporate tax loopholes for large, profitable, multinational corporations.
The message is clear: Massachusetts residents want fairness. We pay our taxes. Our local businesses pay their taxes. It’s time the mega-corporations do the same. The Corporate Fair Share Act will:
- Level the playing field for local businesses
- Protect essential services like healthcare, education, and mental health care
- Ensure financial stability for future generations
Let’s stop leaving hundreds of millions of dollars on the table. Let’s prioritize the taxpayers of Massachusetts over multinational corporations’ profits. Say no to devastating cuts. Say yes to fairness. Tell the State House to close the loophole ad Support the Corporate Fair Share Act. For more information, visit raiseupma.org/corporate-fair-share.
Rita Colafella
Watertown Resident
First, 50% of MA voters are not Republican. The latest registration numbers show it is 75% Dem 25% Rep, how else do you think the state ends up with every single house of power controlled by a single party. (besides the massive gerrymandering)
This proposal is complete nonsense. MA is attracting business HQs from all over New England to move here because we keep the tax rate low (Hasbro is the latest one that is moving from RI and Lego was the other large multination to move its HQ here. Passing something like this will just encourage an exodus and then an even larger budget shortfall.
Actually, Unaffiliated voters (Independents) vastly outweigh both parties, 65% to 26% Democrats and 8% Republicans. But the electoral results speak for themselves.
Overall, Massachusetts is a high-tax state. If the corporate tax rate is lower than our neighbors’, that may be one of our few fiscal advantages. The bill calls for the rate to rise from 5% to 50%, thereby eliminating that advantage. What do we hang our hats on then, our charm and good looks? How about something in between—maybe 25%-30%—increasing revenue, while maintaining our advantage over neighboring states? Taxation is sometimes used as a deterrent (fuel and “sin” taxes). You can’t raise money off corporations you deter from staying, so don’t. If the services Ms. Colafella cites are in such danger, and I’m not saying they aren’t, get serious about other spending. There’s plenty of it. Get plenty serious.