“In 2022, voters passed the Fair Share Amendment, which created a 4% surtax on annual income above $1 million,” as this Fair Share webpage on Mass.gov explains. “Since then, Fair Share has brought in billions of dollars in revenue every year, far exceeding initial expectations.”
Last week, Governor Maura Healey shared “Delivering on Fair Share, a new Impact Report on how the Healey-Driscoll Administration has invested funds from the Fair Share surtax to improve education and transportation in Massachusetts.”
Fair Share’s investment in education includes early education. Specifically, Fair Share is:
- widening access to affordable child care
- growing high-quality preschool opportunities, and
- bolstering community child care providers
As the governor says in a press release, “Massachusetts residents deserve, and businesses and our economy benefit from, investments in high-quality education and effective and reliable transportation. We are making smart, strategic investments that improve life for our residents and families, as well as Massachusetts businesses and our economy – and the return on investment is clear. I’m grateful to the Legislature for their partnership to deliver these results for Massachusetts and for the continued collaboration of advocates and leaders across education and transportation.”
Amy O’Leary, the executive director of Strategies for Children adds, “In 2005 Massachusetts became the first state in the nation to launch an independent, consolidated department with a primary focus on early childhood learning and care. As we look back on that history, we know how critical governance can be to ensure collaboration both inside and outside of government in support of a child’s growth and development – starting at birth and on through higher education.
“The investments from the income surtax in early education and care have been transformational. The funding has supported the Commonwealth Cares for Children (C3) Grants, financial assistance for families, and rate increases, bringing us closer to funding the true cost of care and building a more stable early education and care system for children, families, and educators. Thanks in part to the income surtax, Massachusetts is the only state in the nation to continue funding the pandemic-era grants after federal funding ended. We are a model for the country and will continue to be as we consider opportunities to continue delivering on the promise of supporting a high-quality system in Massachusetts.”