Current:Home > reviewsMassachusetts passed a millionaire's tax. Now, the revenue is paying for free public school lunches. -ProgressCapital
Massachusetts passed a millionaire's tax. Now, the revenue is paying for free public school lunches.
View
Date:2025-04-19 12:17:13
Every kid in Massachusetts will get a free lunch, paid for by proceeds from a new state tax on millionaires.
A new 4% tax on the state's wealthiest residents will account for $1 billion of the state's $56 billion fiscal budget for 2024, according to state documents. A portion of those funds will be used to provide all public-school students with free weekday meals, according to State House News Service.
The new tax, which was approved by voters last year and went into effect in 2023, applies to Massachusetts residents with incomes over $1 million. The new tax adds an extra 4% on earnings above that threshold, making the state's income tax rate one of the highest in the U.S.
Massachusetts' millionaires tax comes as some other Democratic-run states are seeking to bolster their finances through proposed wealth taxes, with the goal of funding social programs such as free school lunches for children. Proponents of wealth taxes argue that the richest Americans have grown their wealth partly due to tax breaks that aren't available to low- and middle-class families, and thus additional taxes on the rich are needed.
With its new budget, which was signed into law by Gov. Maura Healy last week, Massachusetts is now the seventh state to provide free school lunches to kids since COVID-19 funding for free school meals expired.
"[F]ree universal school meals will literally change lives, full stop," said Rep. Jim McGovern, a Democrat from Massachusetts, in a statement earlier this month. "No child in Massachusetts will ever have to wonder how to get though the school day on an empty stomach."
Child care spending and bridges
Of the wealth tax's $1 billion in new revenue, about $524 million will be directed to education, including providing free school lunches as well as expanding child care access and financial aid for college students, according to the governor's office. The rest of the millionaire's tax will fund transportation initiatives, including work on bridges and mass transportation.
The guarantee for free school lunches in Massachusetts comes at an opportune time for families with budgets stretched thin by inflation and as food insecurity is on the rise.
Late last year, a Covid-19 pandemic-relief program that funded free breakfast and lunch for U.S. schoolchildren expired, renewing financial hardship and hunger concerns for many American families. Anti-hunger advocates have urged lawmakers to expand school meal programs, noting that research has shown that hunger can hurt a kid's performance in school.
A May study from the Greater Boston Food Bank found that 33% of Massachusetts households were food insecure in 2022.
- In:
- Massachusetts
- Taxes
veryGood! (83)
Related
- PHOTO COLLECTION: AP Top Photos of the Day Wednesday August 7, 2024
- 5 Things podcast: How can we cultivate happiness in our lives?
- Voters in Pennsylvania to elect Philadelphia mayor, Allegheny County executive
- Kourtney Kardashian, Travis Barker welcome baby. Let the attachment parenting begin.
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- NFL Week 9 winners, losers: Bills' bravado backfires as slide continues
- Cubs pull shocking move by hiring Craig Counsell as manager and firing David Ross
- Cardinals QB Kyler Murray in line to be activated and start Sunday vs. Falcons
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Who was Muhlaysia Booker? Here’s what to know after the man accused of killing her pleaded guilty
Ranking
- Chief beer officer for Yard House: A side gig that comes with a daily swig.
- As coal miners suffer and die from severe black lung, a proposed fix may fall short
- 100 hilarious Thanksgiving jokes your family and friends will gobble up this year
- Insurer to pay nearly $5M to 3 of the 4 Alaska men whose convictions in a 1997 killing were vacated
- Breaking debut in Olympics raises question: Are breakers artists or athletes?
- Ex-Philadelphia labor leader on trial on federal charges of embezzling from union
- Florida dentist convicted of murder in 2014 slaying of his ex-brother-in-law, a law professor
- Tiger King star Doc Antle pleads guilty to federal wildlife trafficking charge
Recommendation
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
After 20 years, Boy George is returning to Broadway in 'Moulin Rouge! The Musical'
'Insecure' star Yvonne Orji confirms she's still waiting to have sex until she's married
I think Paramount+ ruined 'Frasier' with the reboot, but many fans disagree. Who's right?
Giants, Lions fined $200K for fights in training camp joint practices
Step Inside Olivia Culpo's Winning Bachelorette Party Ahead of Christian McCaffrey Wedding
Chinese imports rise in October while exports fall for 6th straight month
What to know about Elijah McClain’s death and the cases against police and paramedics