About The Fair Share Amendment

In November 2022, Massachusetts voters passed the Fair Share Amendment, choosing a fairer tax system and guaranteeing that the richest one percent will pay more to fund our public schools, colleges, roads, bridges, and public transit.

The Fair Share Amendment established a 4 percent tax on the portion of a taxpayers’ annual income above $1 million (increased annually for inflation), and constitutionally dedicates the funds to be spent only on transportation and public education.

Two-and-a-half years in, the Fair Share Amendment is an unqualified success that’s serving as a model for other states that want to invest in quality public services with a fairer tax system. The new tax generated $2.46 billion in its first full fiscal year, and nearly $3 billion in its second full year. That’s more than double the state’s initial expectations, and more than even proponents predicted.

Fair Share-funded investments are making Massachusetts more affordable, competitive, and equitable, and helping build a stronger economy that works for all of us. Since the Fair Share Amendment was passed by popular vote on the ballot, Massachusetts saw its largest population increase in 60 years, we were ranked the strongest state economy in the country and the nation's best state to live in (twice!) and we rose 10 spots on the list of fairest state tax systems. And a recent study found that the number of millionaires and ultra-wealthy individuals rose significantly in the two years after the Fair Share Amendment was passed.

The following text is the exact language that is now part of our state constitution:

To provide the resources for quality public education and affordable public colleges and universities, and for the repair and maintenance of roads, bridges and public transportation, all revenues received in accordance with this paragraph shall be expended, subject to appropriation, only for these purposes. In addition to the taxes on income otherwise authorized under this Article, there shall be an additional tax of 4 percent on that portion of annual taxable income in excess of $1,000,000 (one million dollars) reported on any return related to those taxes. To ensure that this additional tax continues to apply only to the commonwealth’s highest income taxpayers, this $1,000,000 (one million dollars) income level shall be adjusted annually to reflect any increases in the cost of living by the same method used for federal income tax brackets. This paragraph shall apply to all tax years beginning on or after January 1, 2023.