Business groups push for income tax cut, spending cap

BOSTON — A coalition of business groups is eyeing the 2026 ballot with a proposal to cut the state’s personal income tax rate and cap spending as part of broader efforts to create more jobs and improve competitiveness.

A proposal filed Wednesday by the Massachusetts High Technology Council on behalf of businesses and taxpayers asks voters to reduce the personal income tax rate from 5% to 4% over a three-year period, which the group says would save individual taxpayers an estimated $3,000 during that period.