August 06, 2022
PUBLIC FINANCE > Taxes > Income Tax

Could tax cap influence fight over millionaire tax?

Commonwealth Magazine

Eileen McAnneny, the president of the Massachusetts Taxpayers Foundation, said she thinks it’s possible. And she questioned whether it made sense to impose what she considers a politically risky tax on millionaires when the cap is simply going to return a large portion of the revenue the tax will yield back to taxpayers.

“If the state is in a position to give back billions of dollars, then it probably has sufficient revenue,” she said. “Is the millionaire tax really necessary?”