Massachusetts millionaire tax

Boston's Morning Show with Kim & VB
June 15, 2017 - 9:14 am

Beacon Hill is considering a bill which would change the state income tax rate. Currently MA state income tax is 5.15%. The proposed bill would decrease the rate for anyone making less than $1 million to 5% and increase the rate for anyone making over $1 million. The bill is being called the "Fair Share Amendment" and is backed by a variety of liberal and religious groups but opposed by The Citizens for Limited Taxation. A Boston Globe poll suggests that 70% of Mass. residents would be in favor of such an amendment, but past versions of the bill have failed.



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