millionaires' tax

    Massachusetts Gov. Charlie Baker unveiled a $41 billion budget proposal today, beginning a process to have a spending plan in place for the state for the fiscal year starting July 1st.  As always, one of the big unknowns is how much money will the state actually collect to balance the books.

   The stage is being set for a fight in Massachusetts’ highest court over whether a question on raising taxes on the rich can appear on next year’s ballot.

wikipedia commons

Five business groups have sued to try to keep the so-called “millionaires tax” proposal off the Massachusetts ballot next year.

WAMC

Voters in Massachusetts in 2018 may decide on a major tax cut, raising the minimum wage, and putting a surtax on the state’s highest earners along with several other issues that have been cleared legally as potential ballot questions.

wikipedia commons

      Massachusetts legislators are expected to vote Wednesday to put the so-called millionaire’s tax on the 2018 election ballot.  A new report from a well-respected fiscal watchdog group warns the proposal to raise taxes on the rich to bring in more revenue could backfire.

Speaker Carl Heastie
Carl Heastie/ Twitter

State Assembly Speaker Carl Heastie is proposing new income tax brackets on New York’s wealthiest, with a top tax rate of over 10 percent on those making more than $100 million a year.

Money in a pants pocket
Flickr/Mike Schmid

One of the chief arguments over the state budget will be whether to renew an income tax surcharge on New York’s wealthiest, known as the millionaires’ tax.

The Massachusetts legislature is expected to take an initial step tomorrow in enacting a so-called “millionaires’ tax.”  Advocates on both sides are stepping up their lobbying.

An exterior view of the Massachusetts State House in Boston
wikipedia.org

Activists pushing for a so-called “millionaires’ tax” in Massachusetts say their campaign has had a successful start. They’ve collected more than enough signatures to advance the proposal toward the ballot, and have an endorsement from a powerful political ally.

The group Raise Up Massachusetts said it delivered over 157,000 signatures – more than double the number required – to the Secretary of State’s office by Tuesday’s deadline to advance a proposed constitutional amendment putting an additional tax on annual income above $1 million.