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Speaker DiMasi announced that the House Ways and Means version of the state budget for year ending 2008, will NOT rely on revenue from business tax code changes proposed by Governor Patrick.

The Associated Industries of Massachusetts (AIM) publicly applauded the Speaker’s remarks.

Full text:

Associated Industries of Massachusetts applauds Speaker DiMasi for his remarks relative to the state’s business climate. Noting the recent efforts by the Legislature to improve the climate through job training, economic stimulus, health insurance reform, and permit streamlining, the Speaker also announced that the House Ways and Means version of the state budget for next fiscal year will be released on April 11, 2007 and will not rely on revenue from business tax code changes proposed by Governor Patrick.

Instead, the Speaker proposed the creation of a tax code task force to review the state’s entire tax code and to make recommendations for rebalancing the code to make it more simple, fair and predictable.

Associated Industries of Massachusetts urges the Speaker to establish clear goals for this review and would propose the following

The tax code ought to be reformed so as to create a highly stable revenue base upon which to build the state’s budget.
The tax code ought to be structured to encourage investment in Massachusetts that leads to job stability and creation.
Establishing a more stable revenue stream, and reducing reliance on revenue derived from cyclical sources would position the state to avoid the recurring boom and bust cycles which have occurred over the last two decades.

By encouraging investment, Massachusetts ensures that in the competition for jobs, the Commonwealth and its residents have secure employment and economic opportunity in the future.

We are urging our members to contact the Speaker to thank him for his thoughtful approach and to encourage him to adopt the goals as outlined above.

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