A state representative from Cambridge wants to raise the state's capital gains tax in order to generate more than $1 billion in new revenue for the state each year, but at least one fiscal watchdog worries that could backfire by discouraging investment.An amendment Rep. Mike Connolly filed to the fiscal 2020 budget set for deliberation in the House next week would boost the state's tax rate on long-term capital gains to 8.95 percent from its current 5.05 percent. The Democrat said he [...]
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