Massachusetts To Vote On Taxing The Wealthy
By Staff of MTA - The Massachusetts Legislature, meeting in a Constitutional Convention, has approved sending the proposed Fair Share Amendment to the November 2018 state ballot. The legislators’ vote of 134-55 on Wednesday, June 14, was the second by a Constitutional Convention on the measure, as is required for amendments to the Massachusetts Constitution. The citizens’ initiative would create an additional 4 percent tax on annual income over $1 million. The tax would raise almost $2 billion a year for public education and transportation. To ensure that the tax would be applied only to the highest-income residents, the $1 million threshold would be adjusted each year to reflect cost-of-living increases. MTA President Barbara Madeloni said that the amendment is needed because “our public schools and colleges are drastically underfunded.” “We have many communities in need of free high-quality prekindergarten,” she continued. “We need to make sure that arts, athletics and cultural activities are available to students no matter where they live — and we cannot let cost be a hurdle to students looking to pursue higher education in our public colleges and universities. It’s time to give the voters public education funding that is sufficient to meet the needs of all of our students.”