An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

This bill would change Massachusetts tax law to apply the same tax rate to both long-term and short-term capital gains. Currently, profits from selling investments held for more than a year (long-term gains) are taxed at a lower rate than profits from shorter-term sales (short-term gains). The bill eliminates this difference, requiring all capital gains to be taxed at the same rate as ordinary income. This directly affects high-income individuals and investors who typically benefit from the preferential lower rate on long-term investment profits.