CHICOPEE, Mass (WWLP) – Question 1, the “millionaires tax” question, passed by 52 percent on Tuesday. The passage of the question means the state constitution will be amended for the first time in 22 years to tax income over $1 million with a four percent surtax.
Currently, all incomes in Massachusetts are taxed at five percent. Anyone with an income over $1 million will be taxed an additional four percent tax rate when the Massachusetts Constitution is amended. The estimated $1.3 billion in tax revenue from the amendment will be spent on education and transportation.
The opposition campaign, The Coalition to Stop the Tax Hike, said in a statement, “This amendment will hurt small businesses as they struggle with inflation, supply chain issues, and work to rebuild from the negative impacts of the pandemic.”
However, Fair Share for Massachusetts, who supported Question 1, believes this is a win for the state.
“Massachusetts voters seized a once in a generation opportunity to create a fairer tax system and deliver long term, sustainable revenue to places where it’s most needed: public education and transportation,” said Jeron Mariani from Fair Share for Massachusetts.
What made this ballot question different from the others is that it is a constitutional amendment, meaning the legislature had to approve this measure for the ballot in two consecutive legislative cycles before the question went to voters.