Accountants See Wealth Leaving Massachusetts
Accountants continue to sound the alarm over high-income residents leaving Massachusetts, in part to avoid the new income surtax that even the CPAs acknowledge has led to a “surge” in state tax revenues.
$1.8B Millionaires Tax Haul Blows Past Projections
Massachusetts has collected about $1.8 billion from a surtax on the state’s highest earners through the first nine months of the fiscal year, much more than was expected.
Fair Share Transit Spending Is Only First Step
State legislators’ vote last week to send nearly $300 million from the Fair Share Amendment tax to public transit agencies is a step in the right direction, but two vital, additional steps must be taken in the coming years.
Former MTF Head: Senate Bill Whiffs on Competitiveness
Without the short-term capital gains tax rate reduction favored by Gov. Maura Healey and the House, the Senate tax package “offers little” to offset the Fair Share Amendment tax hike on the wealthy, Eileen McAnneny said.
Regional Transit Riders Deserve Their Fair Share
It is essential that this new source of revenue be used to strengthen transportation infrastructure, and RTAs are key in realizing a robust transit system that delivers for all residents.
Poll: Most Residents Support Surtax Spending on RTAs
More than three-quarters of Massachusetts residents support boosting funding for the state’s 15 regional transit authorities, which provide local bus and paratransit services beyond the reach of the MBTA.
Healey in Historic Win; Question 1 Too Close to Call
Voters on Tuesday overwhelmingly chose Democrat Maura Healey as the next governor of Massachusetts. Meanwhile, a hot-button tax policy ballot question remained close Wednesday morning.
Foundation: Surtax Would Pull Down Mass. Biz Tax Climate Ranking
Massachusetts ranked 34th in the Tax Foundation’s annual business tax climate index released last month, but analysts at the think tank say the state’s ranking would slide all the way down to 46th if the income surtax on Tuesday’s ballot were in effect right now.
Poll: Voters Favor Income Surtax
Nearly 6 in 10 likely voters support a proposed constitutional amendment to impose a higher tax rate on income above $1 million, a new poll shows.
Income Surtax Supporter, Opponent Square Off
With less than a month left for voters to decide where they will come down on the Constitutional amendment that would add a 4 percent surtax on annual household income above $1 million, each side of the argument made its case before the Charles River Chamber on Wednesday.
Question 1 Is Unfair, and Won’t Work
Two leading commercial real estate industry figures say a proposed surtax on the portion of someone’s income over $1 million will push businesses out and hurt many non-millionaires selling homes and businesses.
Question 1 Is a Generational Opportunity for Mass.
For us in the real estate community, the Fair Share Amendment is a chance to support the housing needs of our workforce using the better transit infrastructure the tax will fund.
Boston Chamber Re-Ups Opposition to Millionaires Tax
An organization that holds considerable sway on Beacon Hill and among the state’s business community on Tuesday reaffirmed its longstanding opposition to the income surtax amendment that will appear on this November’s statewide ballot.
Look at Multiple Bottom Lines in Fair Share Amendment Fight
Rather than just dismiss the issues or the amendment, this may be an opportunity for the business community to highlight its solutions to Massachusetts’ ongoing problems.
Workers Launch Campaign For High-Earner Surtax
The group that officially kicked off the ballot campaign Wednesday for the proposed surtax on household income over $1 million included a personal care attendant from Brockton, an education support staffer from Worcester, a public transit advocate from Fall River, an ice cream shop owner from Everett, a student counselor from UMass Dartmouth and a human services worker from Lynn.
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