Fair Share Amendment and Fairness in MA taxes
The opinions expressed in this post are strictly those of the author and do not necessarily reflect opinions or positions held by Indivisible Northampton-Swing Left Western MA.
In November 2022, voters passed the Fair Share amendment to our constitution making a historic commitment to education and transportation by finally instituting a graduated tax structure to the top less than one percent in the state. Our tax structure had not been changed since the early 1900’s. No more austerity! What a boon to the commonwealth.
However, in Gov. Healy’s first budget just five months after this vote, she wants to give a permanent tax cut to the top less than one percent negating the funding source from the Fair Share amendment and the will of the people. Again, this budget cancels out the benefits of the Fair Share amendment. The less than one percent will now pay added taxes under the new law, however Gov. Healy’s permanent tax cuts will slash the tax on stock trading from 12% to 5% and will triple the threshold for the estate tax from $1 million to $ 3 million. A blatant permanent giveaway to the ultra wealthy.
Which brings us right back to cutting services and funding which especially affects low and middle income families and communities. Austerity again…depending on state surpluses again if these surpluses are even there.
While the governor is going around the state promoting many important and even critical programs, we cannot ignore this egregious action of our newly elected governor.
That is why we must educate ourselves. One source actonmass.org is a watchdog group that informs the public about our legislature. We can contact our representatives in the House and Senate to request they commit to not including this outrageous tax cut in the final budget. We can write to Governor Healy. We can also share this with our friends, families and colleagues across the commonwealth.
It took a coalition to pass the Fair Share amendment and it will take another one to make sure this tax cut does not make it out of the legislature.
The Governor is showing us where she stands, now we must tell her where we stand.