BOSTON (SHNS) – The coalition backing an income surtax on high earners in Massachusetts plans to launch its campaign this week to pass its measure on the 2022 ballot.
The Raise Up Massachusetts coalition on Wednesday also plans to release new public opinion polling on the proposed constitutional amendment, which tacks a 4 percent surtax on annual household incomes exceeding $1 million. The surtax needs a favorable vote from lawmakers meeting in a Constitutional Convention to reach the ballot and it comes as the Biden administration is also pushing for new taxes on the wealthiest Americans to support its far-reaching domestic spending agenda.
Supporters of the income surtax say it will raise $2 billion a year that would be dedicated exclusively to education and transportation spending, and force the wealthiest taxpayers to pay their “fair share” of taxes.
Opponents say it will drive wealth and capital out of Massachusetts, and the debate on the plan this year comes as the federal government showers states with economic stimulus and COVID-19 relief funds and with state tax collections on a steady ascent.
A virtual press conference is planned Wednesday at 11 a.m., and will come a week before the Constitutional Convention gets underway on Wednesday, May 12. The measure was advanced on a 147-48 vote during the Constitutional Convention last session.