Court Throws Out Massachusetts 'Millionaire Tax'
"Voters will not have an opportunity to impose an income surtax on the state’s wealthiest earners this November, after the Supreme Judicial Court issued a long-anticipated ruling [pdf] Monday that the proposal known as the 'millionaire’s tax' cannot appear on the ballot," report Steve Brown and Ally Jarmanning.
"The proposal, which supporters dubbed the 'Fair Share Amendment,' would have raised an estimated $2 billion via a 4 percent surtax on any income above $1 million," according to the article. That money would have been reserved for transportation and education funding.
Following that news, Shirley Leung writes a column pondering the question of how Massachusetts will fund transportation and education. Leung suggests that progressives and the business community have a common agenda, and investments in transportation and education can benefit the entire state by building a thriving economy.