Massachusetts lawmakers announce $500 million tax relief package

State lawmakers in Massachusetts are announcing plans for a $500 million tax relief package that will focus on helping older residents, low-income workers and parents.

The legislative package comes as record-breaking inflation hits homes across the country.

Senate President Karen Silka says House and Senate leaders have agreed to the framework for structural changes to the state’s tax code, reducing income inequality.

Specifics haven’t been released on the package, but the proposal offers assistance to renters and eliminates the most archaic elements of the estate tax.

The Massachusetts legislative session ends July 31.