The Greater Boston Chamber of Commerce is stepping up its public opposition to the proposed 4% surtax on income exceeding $1 million, telling the Business Journal the move poses a substantial threat to struggling small-business owners across the state.
The chamber, which counts more than 1,200 businesses as members, has already come out against the proposed tax in Ballot Question 1, which asks voters whether they want to change the constitution to bump the 5% tax rate to 9% on all earnings over $1 million.
With proponents and opponents increasingly jousting over multimillion-dollar TV ad campaigns in the run-up to November, the chamber's president and CEO, Jim Rooney, said it’s “important to elevate our public presence” on the issue.
“I really feel strongly about the impact that I don’t think is as well known on small businesses,” Rooney told the Business Journal in an interview. “There’s a lot of circumstances in everyone’s life, whether a real estate transaction or family matter, that creates one-time wealth. That happens quite a bit, particularly in this real estate market.”
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