Renewed Push for 'Millionaire Tax' Begins in Massachusetts - NECN
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Renewed Push for 'Millionaire Tax' Begins in Massachusetts

A procedural vote to advance the proposed constitutional amendment was easily approved on a 156-37 vote May 8

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    Renewed Push for 'Millionaire Tax' Begins in Massachusetts

    The so-called "millionaire tax" is on the move again at the Statehouse.

    A procedural vote to advance the proposed constitutional amendment was easily approved on a 156-37 vote Wednesday during a joint session of the Massachusetts Legislature.

    The amendment calls for a 4 percent surtax on the state's wealthiest individuals — those who report annual incomes above $1 million. The estimated $2 billion in proceeds from the tax would be earmarked for education and transportation.

    The proposal nearly made it to the ballot last year before the state's highest court ruled it violated constitutional restrictions on voter-initiated laws. To get around the court's concerns, supporters this time are using a legislative process to amend the constitution.

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    The earliest the amendment could be ratified by voters is 2022.

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