Committee approves millionaire's tax amendment
Antonio Caban/SHNS
Revenue Committee Chair Rep. Jay Kaufman on Thursday praised the Raise Up coalition, who spearheaded the effort for the constitutional amendment, in remarks following a favorable vote on the measure.
The Massachusetts millionaire's tax constitutional amendment cleared the Revenue Committee on 12-4 vote Thursday morning.
The amendment needs approval from at least 50 House and Senate members in a Constitutional Convention this year to advance to the 2017-2018 Legislature, where a second favorable vote would make the question eligible for the 2018 statewide ballot.
The next Constitutional Convention is scheduled for Wednesday, Feb. 3.
Gov. Charlie Baker has declined to take a position on the amendment. Critics of the proposal say it may spur wealthier residents to leave Massachusetts rather than pay an additional 4 percent tax on incomes above $1 million. Supporters say the amendment will deliver $1.9 billion in new revenues to the state and enable critical investments in education and transportation.
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