It’s time for large, profitable corporations and their wealthy shareholders to pay their fair share.Facts
Invest in Our Recovery
IT’S TIME FOR LARGE, PROFITABLE CORPORATIONS AND THEIR WEALTHY SHAREHOLDERS TO PAY THEIR FAIR SHARE
MTA members are playing a key role in the Raise Up Massachusetts coalition’s Invest in Our Recovery campaign. This campaign seeks swift action by the Legislature to generate revenue needed for public health and public education, and aid to people affected by job losses.
This fall members have been taking part in remote meetings with legislators to seek commitments on three proposals that would:
- Roll back the tax cut on corporate profits by restoring the 9.5 percent rate. Projected new revenues: $450 million to $525 million.
- Tighten the loophole that allows corporations to shift their profits overseas to avoid state taxes. Projected new revenues: $200 million to $400 million.
- Increase taxes by 2 percentage points on unearned income — dividends, interest and capital gains — which are paid mainly by the very wealthy.
The Legislature could implement these measures even as work continues to place the Fair Share Amendment on the Massachusetts ballot in 2022. The amendment would add a 4 percentage point surtax on the portion of a taxpayer’s annual income over $1 million, raising nearly $2 billion a year for education and transportation.
The Invest in Our Recovery campaign is bringing together working people and legislators to discuss the impact COVID-19 is having on our local communities.
In partnership with Raise Up Massachusetts, the MTA is co-sponsoring community briefings as part of the 'Invest in Our Recovery' campaign to advocate for increased state taxes on profitable corporations and their wealthy shareholders.
Please make plans to attend one of the upcoming community events.
As promised - the hottest club in Boston tonight is our #InvestInOurRecovery community briefing! Too many partners to tag but: @MAPublicHealth @ProgressiveMass @massteacher @AFTMass @1199mass @350Mass @ZeroDebt_MA @CityLife_Clvu @JALSA_boston @CPAJustice #ChooseUs #MaPoli pic.twitter.com/NxLizJiVH8— Raise Up MA (@RaiseUpMA) October 7, 2020
Cape Cod and the Islands
5 p.m., Tuesday, October 13
Check this page for additional listings.
Coalition calls on state legislators to raise significant new revenue from corporations and their shareholders before making budget cuts.Call for Action
While the state's economy falters, 19 Massachusetts billionaires saw their wealth increase by $17 billion in the early months of the pandemic.Follow the Money