WAMC: Springfield City Council backs higher tax on millionaires with ‘Fair Share Amendment’

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SPRINGFIELD — The City Council has unanimously endorsed the Fair Share Amendment, a referendum on the November ballot that seeks to raise money for public education and transportation by taxing millionaires and billionaires across the state.

Councilors on Monday voted in favor of a resolution proposed by Councilor Jesse Lederman to endorse the referendum, which if approved by Massachusetts voters in November, would levy a tax of 4 percent on any income beyond $1 million. The estimated $2 billion annually would be used to supplement spending on public education, public colleges, and transportation issues across the state.