Mastodawn

In '22, MA voters enacted the #FairShare, imposing a 4% #surtax on annual incomes above $1M, dedicating the proceeds to #transportation and #education.

…A total of $2.2 billion was collected in the first full year of implementation, far exceeding the original forecast of $1 billion.

Now MA funded #freetuition for #communitycolleges, #freeschoollunch at public schools; lowered fares and expanded bus service statewide, invested in bridges and rail.
#ORpol

Tell state leaders: copy the Massachusetts Millionaires Tax

States can make progress now -- taxing the rich and funding public education -- by copying Massachusetts' Millionaires Tax.

EveryAction

Benjamin Carr, Ph.D. 👨🏻‍💻🧬May 21, 2024

‘#Millionaires #tax’ has already generated $1.8 billion this year for #Massachusetts, blowing past projections
State officials said Monday that the voter-approved #surtax on high earners has generated more than $1.8 billion in revenue this fiscal year — with still three months left to go — meaning state officials could have hundreds of millions of surplus dollars to spend on transportation and education initiatives.
https://www.bostonglobe.com/2024/05/20/metro/millionaires-tax-massachusetts-generated-18-billion/
https://archive.ph/CWZ2Q
#TaxTheRich

Revenue from so-called millionaires tax tops state projections

The estimated haul is already $800 million more than what Governor Maura Healey and state lawmakers planned to spend from its revenue in fiscal year 2024.

The Boston Globe