The state legislature today, sitting in a constitutional convention, voted to approve a constitutional amendment that would allow the state to tax Baystate millionaires at a higher rate on income above $1million.
The amendment will be placed on the 2022 statewide ballot for voter approval. The money collected by the 4% tax increase will be targeted to public education and the improvement of roads, bridges, and public transportation.
A rally in support of what’s called the Fair Share Amendment was held this week at Battleship Cove. Fall River Educator’s Association president Rebecca Cusick said passage of the amendment will point public education toward a more sustainable future.
Sabrina Davis of the Coalition for Social Justice has overcome financial obstacles and relies on public transportation. She says the Fair Share Amendment will improve public transportation and provide opportunities for more SouthCoast residents.
The Fair Share Amendment passed the constitutional convention by a vote of 159-41. Opponents fear the increase in taxes will drive wealthy business owners out of the state, taking their companies and jobs with them to more tax-friendly states.
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