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 and affordable public , and for the repair and maintenance of , and , all in accordance with this paragraph shall be expended, , . In addition to the taxes on income under this Article, there shall be an additional tax of on of annual taxable 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 , 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 .
