Public Finance

The MTF statement cited doubts over whether the estimated $2 billion in tax revenue would go towards the proposed transportation and education, or would even materialize at all. ″[T]he power to appropriate revenue in the state budget rests solely within the Legislature and cannot be guaranteed in the constitution,” according to the statement.

The Massachusetts Taxpayers Foundation echoed the message from Anderson in an analysis released Monday where the group concluded that the millionaires tax was not "sound tax policy." The foundation also said the estimated $1.9 million in new tax revenue was "unlikely" to materialize due to the mobility of wealthy taxpayers and the volatility of capital gains taxes.

The Massachusetts Taxpayers Foundation, a business-funded public policy organization, has been vocal in its opposition and views the tax as a “far-reaching and unguided experiment that risks the state’s economic well-being.” The MTF statement expressed doubts over whether the estimated $2 billion in tax revenue would go toward the proposed transportation and education, or would even material