Question 5: Limit State Tax Collection Growth and Return Surpluses to Taxpayers
Source: boston.com
What does this measure do?
Supports: Personal Income Tax Reduction
Caps how much tax money the state can keep each year at last year's amount plus average wage growth, and refunds anything above the cap to taxpayers. Independent analysts expect refunds of roughly $200 to $250 per taxpayer a year and less money for state programs.
Proposed by: Citizen initiative by Taxpayers for an Affordable Massachusetts (Mass Opportunity Alliance)
Businesses and taxpayer groups brought together by the Mass Opportunity Alliance (Pioneer Institute, Mass. High Technology Council, Mass. Competitive Partnership); Pioneer's Jim Stergios co-leads it.
Source: wbur.org
A YES vote means
State revenue above a cap tied to wage growth would be refunded to taxpayers each year, including millionaire-surtax money, leaving less for state spending.
A NO vote means
The current, looser revenue limit stays and refunds happen rarely.
Sources: ballotpedia.org · tischcollege.tufts.edu · en.wikipedia.org