Fair Share revenues have reached $1.8 billion, dramatically exceeding expectations for this fiscal year
Massachusetts Teachers Association President Max Page and Vice President Deb McCarthy released the following statement on the state’s Fair Share revenue report:
And these developments are just in the first year!
Along with our partners in the Raise Up Massachusetts coalition, the MTA celebrates the state reporting that revenues from the Fair Share Amendment are dramatically exceeding the expectations of the Legislature in its FY24 budget.
The news that Fair Share has produced upward of $1.8 billion in the current fiscal year and is on track to generate a total of $2 billion once the year is complete, was a thrilling vindication of the commitment MTA members and our union made in passing an additional income tax on multimillionaires and billionaires so we can invest in our public schools and colleges and transportation systems.
MTA and its members, as well as our national union, the National Education Association, made significant financial contributions to the campaign and led the grassroots work that won passage of the constitutional amendment. MTA members are proud that they helped win universal school meals for every child; that we are moving toward free community college; that we have more money for school and college buildings; and that we are rebuilding the MBTA, regional bus routes, and local roads and bridges. These developments are just in the first year.
The investments we can make with Fair Share proceeds will improve the lives of our citizens and become the engine for long-term economic health. These funds are vitally needed so school districts can hire and retain the necessary staff to meet the needs of students and provide public educators, in preK through higher ed, with fair wages and modern working conditions, including access to paid family leave.
Our state is also poised to become a leader in providing debt-free access to public higher education for all, because of the revenue available from the Fair Share Amendment.
Making our tax system fairer to invest in the public good is an important step toward a more just society.
The MTA will remain fully engaged in shaping how the surging revenues – this year, next year and every year – will be spent on our public schools and colleges.