Skip to content

Massachusetts is now flush with cash, possibly reshaping debate over proposed millionaires tax

People in this story

Boston Globe, November 2021

A proposed constitutional amendment that would layer a surcharge on yearly earnings above $1 million will land on the ballot in 2022, years after it first surfaced during a time of mounting needs for Massachusetts’ school and transportation systems—and of financial uncertainty for the state.

The yawning shortfalls and prospectivebillion-dollar budget gaps of several years ago, however, have been replaced by an unexpected budget surplus, a state emergency savings account that’s surged to a record $4.6 billion, and multibillion-dollar buckets of federal aid that lawmakers say can bring “generational change” to Massachusetts.

That perception of a flush state government has shifted the ground under the intensifying debate between labor unions and activists, who warn the state’s needs will far outstrip its current financial good fortune and business leaders who caution that hiking taxes on the rich could unnecessarily undercut the state’s competitiveness.

Continue reading at the Boston Globe.

More Stories

image of graphic with sink and cup signifying germs in water

Lots of Tap Water Contains “Forever Chemicals.” Take These Steps to Reduce Your Risk.

image of main character actors from baby reindeer

How “Baby Reindeer” reflects (and fails to show) realities of stalking, according to a criminology professor

image of plastics under a mountain range

Plastic Pollution Treaty Talks

All Stories