Despite the fact that tax receipts have been well above expectations in the wake of the coronavirus pandemic, the Massachusetts legislature this week cleared the so-called Millionaires tax to appear on the state ballot in 2022. The measure, which required approval by two consecutive legislative sessions in order to advance, was passed Wednesday on a vote of 159-41. It had previously been passed in the 2019-2020 session by a 147- 48 count. If passed by voters next year, the Fair Share Amendment as it’s called, will amend the state constitution, which currently prohibits a graduated income tax, and allow for the imposition of an additional 4% surcharge on incomes over $1 million. The new tax is projected to raise an additional $1.9 billion at the same time state receipts are $1.8 billion above projections and the state is flush with $5.3 billion in unspent federal COVID relief funds. Sounds like the state has a spending problem rather than a revenue issue!