This November, Massachusetts voters will vote on a proposed amendment to the Massachusetts State Constitution that will impose giant tax increases.

If passed, it would be the state’s largest tax increase in history and raise taxes on incomes of $1 million or more from the current 5% rate to 9%, which is over an 80% tax increase.

This drastic and flawed measure not only applies to a person’s income. It also applies to a person’s assets, such as home sales, stock options, family trusts, inheritances, and the list goes on – taxing the nest egg of many small business owners and longtime homeowners whose retirement depends on their investments. That is because, unlike federal taxes, this amendment would treat one-time gains – for example from selling a businesses or home – as regular income, pushing people like retirees and small business owners into the millionaire bracket, and nearly doubling their taxes.

Additionally, short-term capital gains would increase from 12% to 16%, which would make Massachusetts short-term capital gain state tax the highest in the country.

We’ve done our research and we know that we can defeat this amendment with a well-funded, well-organized campaign. But, we need your support. Whatever you can give will be greatly appreciated!

If you have any additional questions on this issue, please email us at StrongMassachusetts@gmail.com 

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