In a 5-2 decision, the court sided with business groups that argued the proposal was unconstitutional. The measure would have imposed a higher income tax rate for personal earnings above $1 million, a levy that would have brought in an estimated $2 billion in new revenue next year.
In Stinging Rebuke, Massachusetts High Court Strikes 'Millionaire's Tax' from Ballot
The measure would have imposed a higher income tax rate for personal earnings above $1 million, a levy that would have brought in an estimated $2 billion in new revenue next year.
The Supreme Judicial Court on Monday rejected a ballot question that would have raised the state income tax on Massachusetts’ highest earners and put that money into transportation and education, delivering a crushing defeat for progressive activists and organized labor and removing a volatile issue from this fall’s election.
In a 5-2 decision, the court sided with business groups that argued the proposal was unconstitutional. The measure would have imposed a higher income tax rate for personal earnings above $1 million, a levy that would have brought in an estimated $2 billion in new revenue next year.
In a 5-2 decision, the court sided with business groups that argued the proposal was unconstitutional. The measure would have imposed a higher income tax rate for personal earnings above $1 million, a levy that would have brought in an estimated $2 billion in new revenue next year.
