BOSTON (AP) — A proposed constitutional amendment calling for a 4 percent surtax on the state's highest earners is set for debate and a likely vote by a joint session of the state Legislature.

Supporters of the so-called "millionaire tax" say it would generate as much as $2 billion in annual revenue, with the money earmarked for education and transportation.

Several business groups are urging lawmakers to reject the measure on Wednesday, arguing it could drive wealth out of Massachusetts and hurt the economy.

The state's constitution currently requires that income be taxed at a uniform rate. Any change would also require a vote during the next two-year session of the Legislature and ratification by voters.

Some lawmakers have proposed going beyond a millionaire tax and establishing a graduated income tax in Massachusetts.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

0
0
0
0
0

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.