Massachusetts has collected about $1.8 billion from a voter-approved surtax on the state's highest earners through the first nine months of the fiscal year, the Department of Revenue said Monday in a quarterly report. That's more than $800 million more than what the Legislature and Gov.
Beacon Hill spent most of the past year in hand-wringing mode over the state's finances as tax revenues sagged month after month and new costs exploded, but lawmakers might soon have hundreds of millions of dollars in extra cash available for education and transportation.on the state's highest earners through the first nine months of the fiscal year, the Department of Revenue said Monday in a quarterly report.
"We will not have any problems identifying those," he added."As we all know, those are two areas of immense need." "This is exciting because it's the first concrete numbers we have seen showing that 'Fair Share' revenue is coming in far above the initial projections," said Andrew Farnitano, a spokesperson for the Raise Up Massachusetts campaign that spent years pushing for the surtax."These numbers show that the commonwealth collected nearly $2 billion in that year already, with a few months to go.
"I'm happy to learn it looks like we are going to have significant dollars in order to make investments in much-needed capital for both education and transportation," Rodrigues said."I look forward to that discussion next year when the time comes."
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