Millionaires tax proceeds are supposed to bolster education and transportation. Lawmakers would decide if they actually do.
Legislative leaders offered few assurances about where they, let alone future legislators, would funnel the proceeds from the so-called millionaires tax.
One television advertisement touts a proposed surtax on wealthy residents as a cure for the state’s “teacher shortage.” The initiative would mean better roads, another spot says. Nearly every single ad from proponents says it would raise $2 billion a year.
It ultimately may. But should voters embrace Question 1 and create a new 4 percent surtax on annual earnings above $1 million, the decision about where the money ultimately goes — and who benefits — would rest with lawmakers on Beacon Hill, who face no obligation to use the revenue exactly as proponents are pitching.