This quarter, the Roundtable joined our colleagues in the business community in collective efforts to strengthen the state’s competitiveness. This included testimony on harmful legislation around data privacy and GILTI taxes, and our support for the DRIVE initiative. In addition, we partnered on op-eds supporting clean energy and emphasizing the importance of the wind industry to the Massachusetts economy. 

The Roundtable will continue to collaborate with our business association colleagues to ensure we speak with one voice and lead on issues of importance to members and which impact the state’s competitiveness.

Testimony

Over the past three months, the Roundtable submitted testimony and letters on several key member priorities. The testimony summarized below was framed around a competitiveness message and was submitted in partnership with other business associations, demonstrating the business community’s commitment to collaboration.

  • Data Privacy: In July, the Roundtable, AIM, and the Greater Boston Chamber of Commerce led nearly 20 business organizations in drafting a letter to legislative leaders outlining concerns around the data privacy legislation under consideration by the House and Senate. As outlined in the letter, we emphasized that any “data privacy approach must be – and can be – balanced with employer feasibility, limiting compliance costs and avoiding unintended consequences that negatively impact the state’s economic competitiveness and our world-class innovation ecosystem.” Read the letter here. An additional letter was sent to the Senate in September as they took up their version of the data privacy bill. The Roundtable will continue to engage on this issue as it proceeds in the House.
  • GILTI Taxes: In October, the Roundtable, Associated Industries of Massachusetts (AIM), Massachusetts Taxpayers Foundation (MTF), and the Greater Boston Chamber of Commerce joined together to convey strong opposition to H.3110/S.2033, An Act relative to offshore tax avoidance. As stated in the testimony, this legislation – which would change how the state taxes Global Intangible Limited Tax Income (GILTI) – would be the largest tax increase on employers in the state’s history if adopted. The Roundtable will continue working with the broader business community to ensure legislation, like this, which would make Massachusetts an outlier on business taxes, is not enacted. Read the testimony here.  
  • DRIVE Initiative: In July, Governor Healey filed legislation, H.4375, An Act to preserve and advance Massachusetts’ competitiveness in discovery, research, and innovation for a vibrant economy (DRIVE), which proposes a $400M investment in state funding to retain world-class talent, preserve and create jobs across industries, and strengthen a key foundation of the Massachusetts economy. The proposal includes:
    • $200M, funded through interest from the state’s stabilization fund, for a one-time, multi-year research funding pool to support research projects at hospitals, universities, and independent research institutions, as well as a one-year fellowship program for early career professionals.
    • $200M would be placed in a public higher education bridge funding reserve, funded by surtax revenue, to provide Massachusetts public higher education campuses support for direct and indirect costs of research, cross-regional partnerships, and joint ventures.
    • In addition to serving on the DRIVE Council, the Roundtable submitted testimony to the Joint Committee on Economic Development and Emerging Technologies, highlighting how this bill can “create jobs, solidify our competitiveness on the global stage, and fuel and essential part of the state’s economy.” Read the testimony here.

Op-eds Highlighting Issues Impacting the State’s Competitiveness

  • New England businesses counting on Revolution Wind. The Roundtable joined eight other business associations in highlighting the importance of the Revolution Wind project – and the broader offshore win industry – to New England’s economy. As stated in the op-ed, “Allowing Revolution Wind to proceed is the right choice for our economy, our businesses, and our region’s energy future.” You can read the op-ed in the Darien Times here.
  • Trump administration assault on offshore wind is bad for business and our economy, by JD Chesloff, Brooke Thomson, and Jim Rooney. As the op-ed notes, “This is not only about the future electricity demand of the region, but also about the future of energy in our country. Our nation’s energy strategy should encourage innovation, investments, and a diverse mix of resources that will power New England’s growth and the country’s competitive edge.” You can read the op-ed in CommonWealth Beacon here.