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City Council in support of Fair Share Amendment

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City Council

The amendment  would create an additional tax of four percentage points on annual income above one million dollars and dedicate the funds to public resources.

The Commonwealth’s highest-income residents, who have seen their collective net worth grow exponentially in recent years, pay a lower percentage of their income in state and local taxes than the vast majority of taxpayers, who often pay a higher percentage and amount.

New state revenue is necessary to rebuild crumbling roads and bridges, improve our public schools from Pre-K through college, invest in fast and reliable public transportation, make public higher education affordable again, and expand opportunities for healthy walking.

This week, the Council voted to adopt a resolution in support of the proposed Fair Share Amendment that would create an additional tax of four percentage points on annual income above one million dollars and dedicate the funds raised by this tax to quality public education, affordable public colleges and universities, and for the repair and maintenance of roads, bridges, and public transportation.