‘Millionaire tax’ proposal will get airing on Beacon Hill
By Associated Press | January 18, 2016, 16:58 EDT
BOSTON — Legislation that’s been dubbed the ‘‘millionaire tax’’ is going before a legislative committee on Beacon Hill.
The proposed amendment to the state constitution calls for an additional tax of 4 percent on filers with annual incomes of $1 million or more. Supporters say revenue from the tax would be earmarked for public education and transportation improvements.
A public hearing on the bill is set for 10:30 a.m. Tuesday in room B-1 at the State House.
Supporters say they collected more than 157,000 signatures last year in an effort to put the measure before lawmakers and, eventually, the state’s voters.
The earliest it could appear on the ballot is November 2018.
Citizens for Limited Taxation, an advocacy group, has called the tax proposal deceptive because there’s no guarantee the additional revenue would go to education and transportation.