Fair Share Amendment

What is the Fair Share Amendment?

The Fair Share Amendment, passed by voters in 2022, is generating billions in yearly support for transportation and public education. The revenue comes from an additional tax on households with very high annual incomes—that’s why it’s also known as a “millionaire’s tax.”

Fair Share In Action

MassBudget is providing the analysis and insights necessary for the Commonwealth to maximize its impact—from the structures created to ensure the money goes where voters intended to allocating resources in our state budget.

Fair Share Advances Racial Equity Through New Budget Investments

The first year of investments made with Fair Share dollars demonstrate how the new surtax creates opportunities to mitigate the ongoing harms of structural racism while improving the Commonwealth as a whole.

Three Funds, One Purpose: Implementing Fair Share

The Fiscal Year 2024 budget is the first state budget to include money raised from the Fair Share Amendment, making important investments in education and transportation. Lawmakers took additional steps to create mechanisms that will facilitate transparency, stability, and protect the intent of the amendment.

Your Fair Share Dollars at Work: Critical Investments and Hard Choices

The Fair Share Amendment is doing what voters wanted it to do: making new, important investments in our Commonwealth and making our tax system more equitable.

What does the amendment actually say?

The following text is the exact language that the amendment added to the state constitution. Hover over the highlighted text to see further detail on what it means and why it matters.

To provide the resources for quality public  education  and affordable public  colleges and universities , and for the repair and maintenance of  roads ,  bridges  and  public transportation , all  revenues received  in accordance with this paragraph shall be expended,  subject to appropriation ,  only for these purposes . In addition to the taxes on income  otherwise authorized  under this Article, there shall be an additional tax of  4 percent  on  that portion  of annual taxable  income  in excess of $1,000,000 (one million dollars) reported on any return related to those taxes. To ensure that this additional tax continues to apply only to the commonwealth’s  highest income taxpayers , this $1,000,000 (one million dollars) income level shall be adjusted annually to reflect any increases in the cost of living by the same method used for federal income tax brackets. This paragraph shall apply to all tax years beginning on or after  January 1, 2023 .
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