Millionaires to Pay Higher State Income Taxes in Massachusetts

Massachusetts will levy more taxes on income above $1 million after voters decided the promise of fewer potholes outweighed worries that the wealthy could flee the state.

The proposal (Question 1) for a 4% surcharge on income above $1 million had the support of about 52% of voters, according to the Associated Pres.

Massachusetts has a flat 5% income tax. The ballot decision requires the estimated $2 billion a year in revenue to be devoted to “quality education and affordable public colleges and universities, and for the repair and maintenance of roads, bridges, and public transportation.” About 21,000 ...