![]() ![]() Opponents, however, contend the proposed change would kill jobs and prompt wealthy residents to leave Massachusetts, and claim the potential financial gains have been overstated. Supporters of the amendment say it would give the state nearly $2 billion in new revenues annually, creating a crucial new funding stream for public education and transportation. If voters agree next year, the new surtax would take effect in 2023. Wednesday's vote marked the second consecutive year that the Legislature, in its annual Constitutional Convention, has voted to advance the proposal. The so-called Millionaires' Tax moved a step closer to becoming a reality Wednesday, as the Massachusetts Legislature voted 159 to 41 to put a proposed four-percent surtax on incomes over a million dollars before voters in 2022.īecause the Massachusetts Constitution mandates one uniform income-tax rate, the change - also known as the "Fair Share Amendment" - would require a constitutional amendment.
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