As one of the long time community activists organizing to strengthen our neighborhoods and our communities through the Coalition of Social Justice and the Coalition against Poverty in the various South Coast cities and towns, I can tell you first hand how low and moderate income people have been carrying more than their fair share of the pain imposed by past budget cuts.
As members of ONE Massachusetts, we've been learning a lot about the various tax credits offered to corporations, especially the Film Tax Credit. We've studied reports from DOR and Mass INC, and are not convinced that we get a good return on the dollars we invest by paying 25% of the enormous salaries, the likes of Tom Cruise.
The Governor has taken an important step by imposing a temporary cap on the film credit although it still allows $50 million dollars in credits for FY11 and FY12. We'll be supporting this proposal, and may even be suggesting more!!!
I am not surprised the film industry is complaining, but at least they agree that the responsibility should be shared.
In these difficult times every sector of the economy must contribute to the well being of the Commonwealth.