The new tax on the state's highest earners has generated a lot more revenue than lawmakers had projected.
State officials say the so called millionaire's tax has generated one-point-eight-billion-dollars, with over a month left in the current fiscal year.
That's already 800-million-dollars more than lawmakers had projected in the state budget enacted last year.
Voters approved the four percent tax on earnings over one-million-dollars a year in a ballot initiative passed in 2022.
(Photo by MIGUEL MEDINA/AFP via Getty Images)
Photo: MIGUEL MEDINA / AFP / Getty Images