Here's everything that Massachusetts' 4% tax on millionaires will pay for, from free student lunches to college financial aid

• Massachusetts' new 4% tax on millionaires is bringing in $1 billion in revenue this year.
• Gov. Maura Healey last week signed a $55.98 billion state budget that spends the funds.
• The money is going toward free school lunches, discounted transit fares, and college financial aid.

Massachusetts' new 4% millionaire's tax is giving a major boost to education and transportation initiatives in the state. 

Thanks to the state's voter-passed Fair Share amendment that put a 4% surtax on people's annual incomes above $1 million, $1 billion in revenue has been added to the state's budget.