Taxachusetts No More: "Millionaire's Tax" Denied

The Massachusetts Supreme Judicial Court recently ruled that a ballot initiative that would have had Bay Staters vote this November to raise the state income on its wealthiest residents is unconstitutional. The Fair Share Amendment proposal, dubbed by some the “Millionaire's Tax,” will no longer appear on the November ballot. For lawmakers and advocacy groups still looking to increase the tax revenue in Massachusetts, the Court ruling will likely lead to other proposals to achieve the same goal to raise approximately $2 billion in additional revenue in a state famously referred to as “Taxachusetts.”