BOSTON — Massachusetts Sen. Brendan Crighton (D-Lynn) says the state’s voters deserve to have a say on a constitutional amendment that would provide greater investments to education and transportation funding.
The state House and Senate advanced an amendment to that effect during a joint session last Wednesday. It now goes before the voters in November 2022.
The Fair Share Amendment would establish a 4 percent tax on annual taxable income in excess of $1 million. The revenue generated, estimated by the Department of Revenue to be as much as $2.2 billion annually, would fund repair and maintenance projects for roads, bridges or public transportation as well as funding for public education — including support for early education, childcare and public higher education.
“Massachusetts residents deserve the opportunity to vote to create a more fair tax system that will make major investments in transportation and education,” said Crighton. “I was proud to vote with my legislative colleagues to overwhelmingly pass this amendment and put the measure on the ballot in 2022.”
State Rep. Daniel Cahill of Lynn said the measure is one more step in a process to get the issue before the voters.
“If voters approve, it would result in new revenue dedicated to transportation and public education systems,” Cahill said
State Rep. Peter Capano (D-Lynn) said there shouldn’t be a problem with the tax being affordable.
“For far too long, working-class families have paid a larger share of their income in state and local taxes than the top 1 percent,” said Capano. “Millionaires and billionaires can afford to pay their fair share to help fund crucial investments into education, transportation and infrastructure.”
State Rep. Lori Ehrlich of Marblehead said she’s confident the tax will be enough to fund the improvements.
“As members of the Legislature, we hear from constituents about their issues and priorities each and every day. Whether education, climate change preparedness, transportation, housing or any number of critical areas, the need for action — and investment — is clear,” Ehrlich said.
“By putting the Fair Share Amendment before the voters in 2022, we provide the Commonwealth with the opportunity to vote for a more equitable tax system that will give us the revenue we need to invest in those very priorities. I am proud to have joined my colleagues in moving the amendment to the ballot, and look forward to a robust, statewide debate on the question,” she said.
Should voters approve the ballot measure, the income level would be adjusted annually to reflect increases in the cost of living by the same method used to determine federal income tax brackets. This would ensure that, over time, the additional 4 percent tax would continue to apply only to the highest earning individuals in the Commonwealth. The tax would apply to all tax years beginning on or after Jan. 1, 2023.
The legislature must approve a constitutional amendment in two consecutive joint sessions before the question appears on the ballot for voter approval. The Fair Share Amendment was approved for the first time in June 2019, by a 147-48 vote. This week’s vote of 159-41 ensures the proposal will appear on the November 2022 statewide ballot.