Proposed 'Millionaire Tax' Question Heading to 2018 Ballot - NECN


The latest news from around the state

Proposed 'Millionaire Tax' Question Heading to 2018 Ballot



    Proposed 'Millionaire Tax' Question Heading to 2018 Ballot

    Massachusetts lawmakers have voted to put a proposed "millionaire tax" constitutional amendment on the 2018 ballot.

    Under the plan, individuals with annual incomes above $1 million would be subject to a 4 percent surtax. The surtax would only apply to portions of income over $1 million. The current income tax rate is 5.1 percent.

    House and Senate members voted 134-55 Wednesday to place the measure before voters next year.

    Supporters say it would raise $1.9 billion for public education, roads, bridges and public transportation.

    Critics argue it would hurt the state's business climate and drive away jobs. They also argue the question violates the state constitution because it amounts to a budget appropriation - which is prohibited in ballot questions.

    Backers say the question isn't an appropriation and is constitutional.

    Get the latest from necn anywhere, anytime

    • Download the App

      Available for IOS and Android