Report: Mass. Home to More Millionaires Despite New Surtax
Surtax supporters released data Monday that they said pokes holes in the argument that the state’s new tax on high earners is causing higher-income residents to move out of Massachusetts.
Surtax supporters released data Monday that they said pokes holes in the argument that the state’s new tax on high earners is causing higher-income residents to move out of Massachusetts.
The sudden thud of collapsing state tax revenues echoed through the halls of Beacon Hill on Wednesday, inverting a projected surplus of hundreds of millions of dollars into a shortfall nearly as large and reshaping debate about government spending and tax relief plans.
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.
Members of a powerful advocacy coalition are mounting an effort to include business tax measures in a revenue package designed to bankroll transportation investments, saying proposals that add to the costs of gasoline and tolls are too regressive and will only put a heavier burden on low-income and middle class residents.
Business organizations that have resisted new or higher taxes to funnel more money into public transportation are hitting back at the advocacy group Raise Up Massachusetts and its call for an “economically progressive” revenue package, delivering a one-two punch as this week began.
House, Senate and Baker administration officials are still actively discussing whether they could agree to delay the rollout of the paid family and medical leave law for three months beyond July 1 without passing a bill this week, according to sources familiar with the negotiations.
Advocacy and business groups have called for a three-month delay in payroll taxes needed to fund the new paid family and medical leave program.
State government should approve a three-month delay in payroll taxes needed to fund the new paid family and medical leave program, according to a coalition of business, labor and social justice groups.
Meet the new millionaire tax: It’s the same as the old millionaire tax that was rejected on constitutional grounds by the Supreme Judicial Court – keeping it off the 2018 ballot – with one key difference.