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Results: Massachusetts Question 1, Higher Taxes People Earning Over $1 Million

 1 year ago
source link: https://www.businessinsider.com/massachusetts-question-1-voters-higher-taxes-incomes-over-1-million-2022
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Results on Massachusetts Question 1: Voters say yes on higher taxes for people earning more than $1 million

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  • Explore more race results below.
  • Massachusetts voters said yes on higher taxes for people earning more than $1 million. 
  • Revenue from the increased taxes are used to improve education and transportation.
  • Supporters argued Question 1 would benefit residents with modest incomes.
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Masschusetts voters said "yes" on Massachusetts Question 1, which added an amendment that provides a tax hike on incomes over $1 million to the state's constitution. 

Ballot measure details

Known as the Tax on Income Above $1 Million for Education and Transportation Amendment, Massachusetts Question 1 added an additional 4% tax on individuals bringing in more than $1 million. The tax rate for those making over $1 million before the passage of Question 1 was 5%, so the full rate rose to 9%.

The revenue from the tax is allocated to public education, roads, bridges, and public transportation.

A January study published by The Center for State Policy Analysis at Tufts University found that the revenue from the amendment would bring in the state an additional $1.3 billion in 2023. It also found that only 0.6% of Massachusetts households would be affected by the amendment.

Support and opposition

Fair Share Massachusetts led the campaign in support of the measure. Supporters argued Question 1 would benefit Bay Staters with more modest incomes.

"The Massachusetts economy is working great for those in the upper 1%. The time is now for all Massachusetts residents to reap the benefits of what this great state can accomplish with the revenue of the Fair Share Amendment," said state Rep. James O'Day, according to MassLive.

The Coalition to Stop the Tax Hike Amendment led the campaign against the proposal. Opponents argued the tax hike would make the wealthy consider leaving the state and that it's unfair to upper-class earners.

Massachusetts Republican Party Chairman Jim Lyons called the amendment "a blatant cash grab masquerading as class warfare." Lyons also said that "Massachusetts doesn't have a revenue problem. It has a spending problem," according to MassLive. 

The money race

The measure attracted about $21.3 million in pro-Massachusetts Question 1 contributions and more than $9.9 million in opposition contributions, according to Ballotpedia.


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