Fair Share Amendment Makes Tax System More Equitable, Says Vitolo

BROOKLINE, MA — Voters will decide whether to impose an income tax surcharge on the state's most wealthy next year, after state legislators, including Brookline Rep. Tommy Vitolo, approved an amendment late last week.

Known as the Fair Share Amendment, it would add a 4-percentage point surtax on annual household income over $1 million.

The revenue generated, estimated by the Department of Revenue to be as much as $2.2 billion annually, would fund repair and maintenance projects for roads, bridges or public transportation as well as funding for public education, including support for early education and childcare and public higher education.

“This amendment will make our tax system more equitable, and I am optimistic that the voters will agree when the proposal comes to the ballot box," said Vitolo in a statement.

Having passed in the legislature in two consecutive sessions, the amendment will be on the ballot in November 2022. If Massachusetts votes in favor of the bill, the tax will go into effect on January 1, 2023.

If it passes, the $1 million threshold will be adjusted each year to reflect inflation.

The Fair Share Amendment was first introduced in 2015, when there were about 15,000 Massachusetts residents earning more than $1 million a year. Now in 2021, there are about 18,000 residents earning over $1 million a year, according to Rep. James O'Day, of West Boylston, who was one of the sponsors of the amendment.

"Clearly, there are millionaires and billionaires who can afford to pay their fair share in taxes, which will support our neighbors and local communities with investments in public education and transportation,” said O’Day.

Rep. Jason Lewis, of Winchester, also sponsored the bill.