BOSTON – Gov. Charlie Baker on Thursday proposed to pour almost $1 billion over the next five years into economic development, housing and job training as part of a strategy to maintain strong job growth in the Boston region and revitalize cities and towns still struggling to take advantage of the economic upswing.
The bill the governor filed calls for new borrowing to support public infrastructure, the redevelopment of environmentally damaged brownfields and research to commercialize emerging new technologies.
BOSTON – The Legislature's Committee on Revenue on Thursday morning gave its stamp of approval to a proposed constitutional amendment that would establish a 4 percent surtax on income in excess of $1 million in a bid to raise $1.9 billion.
The proposal (H. 3933) seeks to raise additional revenue for education and transportation initiatives by hiking the tax rate for earnings in excess of $1 million to about 9 percent.
