Massachusetts lawmakers push for higher taxes for millionaires

Boston Statehouse

BOSTON (WWLP) – Starting next week, state lawmakers will be debating the Fair Share Amendment.

Supporters of the plan want to impose a 4-percent surtax on an individual’s income once it exceeds $1 million. However, opponents of the plan say it’s simply an attack on business owners and one that could drive them out of the state.

“The fear of course is when you tax some people at higher amounts, those people will leave and the politicians will rely on that tax money coming in,” said Paul Craney of Mass Fiscal Alliance. “Without that money coming in, then they’ll go to the next rung below on the ladder.”

This debate isn’t new to many on Beacon Hill.

The millionaires tax has been a question on the ballot six different times, and it even went to the state’s highest court where it was ruled unconstitutional.

But, that isn’t stopping lawmakers who feel the state needs the money now more than ever.

22News will continue to follow this and provide you with updates as soon as they are available.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Only on WWLP.com | Digital First

More Digital First

Trending Stories

Donate Today