Boston CEOs Warn Tax-Cut Proposal Would Make State Worse Off (1)

Massachusetts business leaders have long pushed for tax relief.

Now, as voters prepare to decide whether to cut the income tax, some of those same voices warn the proposal could leave the state with deep budget holes and new pressure on business.

The proposed ballot measure, which would lower the state’s income levy to 4% from 5% over a three-year period, has exposed a divide in the business community. It’s backed by a coalition of business groups, including the Massachusetts High Technology Council, who say the tax cut would be a counterweight to the state’s millionaires tax and an ...