Massachusetts Gets More Money From Millionaires

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

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