Friday, April 12, 2013
The House proposal cuts out increased funding for early education, one of the centerpieces of Patrick's plan.
House leaders on Wednesday proposed a budget that was a billion dollars less than the one Gov. Deval Patrick put forth in January. The $33.8 billion House budget includes increased funding for higher education and local aid but not more money for early education, one of the centerpieces of Patrick's budget that emphasizes prekindergarten funding and investment in transportation. Speaker Robert A. DeLeo said the House budget would not increase these funds over concerns that the Department of Early Education and Care is inefficient and wasteful, the Boston Globe reported. Altogether, the House proposal would raise taxes by $500 million, compared to Patrick's proposed $1.9 billion tax hike. The House plan would result in a 3.9 percent …
Thursday, April 11, 2013
Menino says proposed $2.6 billion Fiscal Year '14 budget is "prudent."
Boston Mayor Thomas Menino presented his last fiscal year budget - of $2.6 billion - with laughs, joking about the mayoral race with candidates and potential candidates in the room. Before getting to the details, a mock movie was played to a full room that included the Boston City Council, department heads, Superintendent Carol Johnson, as well as Police Commissioner Ed Davis. Laughs filled the Eagle Room at City Hall, for the comedic line that kept going, "From the producer of the Fiscal Year 1994 Budget, and the Fiscal Year 1995 Budget..." all the way up to Fiscal Year 2014 - "...coming July 1." Menino, sat in a chair the whole time, referred to the proposed FY '14 budget as "prudent" and that it increased 5.6 percent from fiscal …
Wednesday, March 20, 2013
Without additional funding, MBTA officials are forced to make difficult choices.
MBTA riders could see fares go up in the not-so-distant future if legislators don’t accept Gov. Deval Patrick’s ambitious funding plan. T General Manager Beverley Scott said Tuesday the T will likely hold off on spending $45 million for preventative maintenance and hike fares to close a projected budget gap of $117 million, factoring in increased ridership and advertising this year, the Boston Globe reported Wednesday. Director of Strategic Initiatives for the MBTA Charles Planck said at a March 5 MBTA finance committee meeting that fare increases could go up 33 percent under the proposal, which means subway fares would move up from $2 to $2.60. Massachusetts Department of Transportation Secretary and CEO Richard Davey testified before the…
Thursday, March 7, 2013
Fare hikes and service cuts are a few options T officials proposed in an effort to close the $130 million budget deficit in 2014.
MBTA officials have proposed service cuts and fare increases if there is no increase in funding, based on a $130 million projected budget deficit in fiscal year 2014. Director of Strategic Initiatives for the MBTA Charles Planck said at a MBTA finance committee meeting that in order to close the budget gap T fares will need to go up 33 percent, which means subway fares would move up from $2 to $2.60, The Boston Globe reported Wednesday. There was also talk at the meeting of a 15 percent fare increase coupled with the possible elimination of up to 30 bus routes, according to the Globe. Gov. Deval Patrick unveiled an ambitious transportation plan in February that would potentially raise $1.02 billion per year for the next 10 years, some of …
Saturday, March 2, 2013
The governor's optimistic but state legislators don't sound so sure. What do you think?
Governor Deval Patrick's still bullish about his budget proposal, which will raise $1.9 billion in new revenue through an increase in the income tax, decrease in the sales tax, and various other changes to taxes, fees and deductions. But the men and women who have to pass the bill don't sound as eager to support a package many see as a politically-damaging measure. The Boston Herald quotes several Beacon Hill legislators who sounded notes of caution to outright opposition to the budget. Those quoted cited the 1990 election losses in the wake of an income tax increase, pressure on small businesses and the higher price of gas as reasons they were skeptical. And the governor's new web tools touting proposed transportation and education …
Saturday, February 23, 2013
Massachusetts is chock full of defense contractors, federal employees and federal program beneficiaries. Are you worried the federal budget sequester will hurt your family's finances?
The federal government has a week before its self-imposed sequestration deadline. If enacted, the across-the-board cut to the federal budget could mean layoffs, decreased aid and lower government spending. That could mean trouble for some very popular government programs, like Social Security and Medicare. Defense contractors are also preparing for lost and reduced contracts with the government. Locally, it could also doom smaller programs that have a big impact. The Low Income Home Energy Assistance Program (LIHEAP) helps families in need pay for home heating oil and other energy costs. Massachusetts stands to lose over $11 million in assistance under this one program. Representatives Ed Markey and Jim McGovern are trying to shield the …
Monday, January 28, 2013
The state senator from Jamaica Plain offered her opinion on Gov. Deval Patrick’s $34.8 billion budget proposal.
As the state continues to digest Gov. Deval Patrick’s budget, one local elected official has called the $34.8 billion proposal “gutsy.” “Like everyone, I am still digesting the details of the Governor’s proposal," Sonia Chang-Díaz, senator for the 2nd Suffolk District, emailed to Jamaica Plain Patch Friday afternoon. "But in its broad strokes, I think it’s both gutsy and sensible that the Governor is prompting an adult conversation across the Commonwealth about how we pay for the things our communities need and that we know work. It’s much needed.” Patrick’s proposal, submitted Jan. 23, asks for an increase in the income tax from 5.25 percent to 6.25 percent coupled with a reduction in the sales tax from 6.25 percent to 4.5 percent. It…
Their proposal calls for a two-thirds majority vote before tax increases can be passed.
House Republicans are proposing new rules that would make tax increases harder to pass. Now, tax increases need a simple majority to pass but under the GOP's proposal they would need a two-thirds majority to become law, the AP reported. Republicans also want any change to apply to withdrawals from the state's rainy day fund as well. They also want to bar the house speaker from voting unless there is a tie, claiming that the speaker's vote tends to strongly influence the vote of majority party members. The proposals came out just before Gov. Deval Patrick submitted his $34.8 billion budget to the State House. The budget calls for an income tax increase of one percentage point – from 5.25 percent to 6.25 percent – coupled with a decrease…
Saturday, January 26, 2013
The governor's budget proposal for fiscal 2014 would raise $1.9 billion in new revenues through a combination of tax increases and eliminating some tax breaks. Is the state's economy ready for this?
After years of treading water in the state budget, Gov. Deval Patrick has put forth an ambitious $34.8 billion proposal for the coming fiscal year that would make significant investments in education and transportation by raising $1.9 billion in revenue, through a combination of tax increases and eliminating some tax breaks. The question: Is the state's economy ready for this? To raise that funding, Patrick's proposal would increase the income tax from 5.25 percent to 6.25 percent, while doubling personal exemptions. It'd also lower the sales tax from 6.25 percent to 4.5 percent. Several tax breaks for both personal income and businesses would be eliminated. The gas tax would be indexed to inflation, ensuring gradual increases in what …
Thursday, January 24, 2013
The plan focuses on investments in transportation and education while calling for an income tax increase coupled with a lower sales tax.
In submitting his $34.8 billion budget to the Legislature Wednesday, Patrick said the proposed income tax hike is part of a comprehensive package aimed at investing in the state's infrastructure and in driving growth. The proposal asks for an increase in the income tax from 5.25 percent to 6.25 percent coupled with a reduction in the sales tax from 6.25 percent to 4.5 percent. It also doubles personal exemptions. Despite the proposed income tax hike, Patrick says that low and modest-income workers will pay less in taxes under his proposal, and only the "more fortunate see a larger increase." "I do not submit this proposal lightly. I understand that many households in Massachusetts continue to struggle from the impact of the Great …
Ajax
12:58 pm on Wednesday, March 20, 2013
This makes me sick. Deval must see us as limitless ATMs that he can just tap into to pay for whatever he wants. How about scale back the $13B plan? more ›