Page 8 - Share Amendment News Today : Breaking News, Live Updates & Top Stories | Vimarsana

This article is more than 2 years old. Voters will not have an opportunity to impose an income surtax on the state’s wealthiest earners this November, after the Supreme Judicial Court issued a long-anticipated ruling Monday that the proposal known as the "millionaire’s tax" cannot appear on the ballot. The proposal, which supporters dubbed the “Fair Share Amendment,” would have raised an estimated $2 billion via a 4 percent surtax on any income above $1 million. The amendment stipulated that money raised would be earmarked for education and transportation expenditures. WBUR pollin...

BOSTON (AP) — Massachusetts lawmakers are expected to vote next week to send a proposed “millionaire tax” question to next year’s ballot.

The senator from Massachusetts wants to impose a 2% annual tax on net worth over $50 million, including assets like stocks and property. The plan calls for an additional 1% tax to be added on all net worth above $1 billion.