New England business groups promise lawsuit against 'millionaire tax'
BOSTON (AP) — Several business groups are readying a legal challenge aimed at stopping a ballot question that would raise taxes on the state's highest earners.
The Massachusetts High Technology Council said in a newsletter to members that a formal complaint would be filed with the state's highest court within weeks against the so-called "millionaire tax."
The proposed constitutional amendment would impose a 4 percent surtax on any portion of personal income exceeding $1 million a year.
The council and other business groups say the measure would hurt the economic climate in Massachusetts and disrupt the state's budgetary process.
They say the lawsuit will make "compelling constitutional arguments" against the legality of the ballot initiative.
Supporters of the millionaire tax have stated they're confident the proposal will stand up to a court challenge.