70% of the Massachusetts Legislature voted yes this week and our Raise Up proposal to raise $2 billion for education and transportation moves forward. Read Adam Reilly’s story on the Constitutional Convention:
The ‘Millionaires’ Tax’ Jumps Its First Hurdle On Its Way To Voters
Proponents of a so-called millionaires’ tax won a major victory at the State House Wednesday. In a nearly three-hour Constitutional Convention—a joint session of the House and Senate that vets proposed amendments to the Massachusetts Constitution—the proposed measure received 135 votes, more than enough to move to the next stage of the amendment process.
If a proposed constitutional amendment receives the backing of at least 50 of the state’s 200 legislators in two consecutive years, the measure is then placed before the general public for a vote. If the millionaires’ tax is approved at a Constitutional Convention next year, voters will have the final say in 2018.
Right now, all Massachusetts voters pay an identical income-tax rate of 5.1 percent. If passed, the proposed amendment would place an additional tax of 4 percent on all income over $1 million—to “provide the resources for quality public education…affordable public colleges and universities, and…the repair and maintenance of roads, bridges and public transportation.”
The new tax would raise about $2 billion annually.
– See more at: http://news.wgbh.org/2016/05/18/local-news/millionaires-tax-jumps-its-first-hurdle-its-way-voters#sthash.AHvCfbQm.dpuf