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Mass. Residents To Vote On State's Income Tax

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Aug 11, 2008 11:19 am US/Eastern

Mass. Residents To Vote On State's Income Tax

Reporting
Joe Shortsleeve
BOSTON (WBZ) ― On November 4, voters in Massachusetts will vote whether to repeal the state's income tax. The state's income tax rate is 5.3 percent and currently generates more than $12 billion for the state's $27 billion annual budget. If residents were to repeal the state income tax, it would cut state spending by 40 percent.

Activists working to repeal the state income tax have gathered the required 125,000 signatures need to get on the state ballot. They say state government is bloated and needs to be cut. Those working to keep the state income in place, say without it, public schools would be decimated and property taxes would skyrocket.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

© MMIX, CBS Corporation. All rights reserved.