Fair Share Facts: New Report Tackles “Millionaires Tax” Claims

Contact: Reginauld Williams, 617-426-1228×102, rwilliams@massbudget.org

For Immediate Release: Thursday September 15, 2022

BOSTON – With just over 50 days left until the general election here in the Commonwealth, the latest report from the Massachusetts Budget and Policy Center (MassBudget) evaluates the best research on the impact of the Fair Share Amendment, also known as the “Millionaires Tax,” and its impact on the Bay State’s future. This November, Massachusetts voters will decide whether to approve an additional 4 percent tax on the portion of a tax filer’s income above $1 million.

“We can’t allow misconceptions about taxing the very wealthy among us to stop the hard won progress we’ve made here in the Commonwealth on funding schools and our mounting transportation needs,” said Marie-Frances Rivera, President of MassBudget. “The research clearly shows that most Massachusetts residents wouldn’t pay a penny more under Fair Share, and it’s important that we remember that this is an equity issue. This new, dedicated revenue is the difference between the Massachusetts we are today, and the true leader we can be. It’s a win-win for us all.”

Some of the key findings from the report include:

For more information on the impact of the Fair Share Amendment, visit MassBudget’s resource page here.

Key staff related to this report are available to discuss in further detail.

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