Thursday, May 16, 2013
Ways & Means Committee budget falls short of many of Gov. Deval Patrick's proposals.
The Massachusetts State Senate Ways & Means Committee released a budget proposal Wednesday just shy of $34 billion for fiscal year 2014 that falls short of several of Gov. Deval Patrick's budget recommendations. According to the Boston Globe, the Senate $33.92 billion budget would increase spending by 4.4 percent as opposed to Patrick's budget that hikes spending by 6.9 percent. The Senate budget is roughly in line in terms of spending with the proposed $33.8 billion House budget last month. The Globe reported that the Senate budget increases spending for elderly services and special education but does not reach Patrick's recommendations for expanding transportation and providing universal childcare access. Committee Chairman Sen. Stephen …
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Friday, March 8, 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 …
Monday, March 4, 2013
The tool includes a maps for transportation funding and educational funding for each legislative district.
In an effort to promote his $34.8 billion budget proposal, Gov. Deval Patrick unveiled an online tool with 400 maps that shows what each legislative district would receive in education funding. “This tool will help people see exactly what to expect in their own backyard as part of the investments we’ve proposed," Patrick said. “Meaningful investments in education and transportation today will significantly improve our economic future both in the short term and for generations to come.” There are two maps per district – one displaying transportation investments and one displaying education investments in each community. For example, according to the maps, the 8th Suffolk House District, which includes Beacon Hill and the Back Bay, …
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 …
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 …
Tuesday, July 3, 2012
The bill increases public aid while not raising taxes.
The House and Senate overwhelming passed a $32.5 billion budget last week and Gov. Deval Patrick has until July 8 to review and sign it, or to issue vetoes. The thrust of the bill is to shore up aid to public programs while at the same time not increasing the burden to taxpayers. Overall, the 2013 budget is about 3 percent higher than this year's, but considerably tighter than previous recent years. Here are some of the bill's highlights: 1. It includes no new taxes or fees. Instead, $516 million will be taken from existing funds, including $350 million from the state's rainy day fund, leaving it over a billion dollars in the black. Still, that's down from the $2.2 billion it had in 2008. 2. It tightens welfare. The bill would limit the …
Friday, June 29, 2012
Improvements coming to neighborhood parks, pools and playgrounds.
The Boston City Council unanimously passed Mayor Thomas Menino's Fiscal Year 2013 operating budget of $2.5 billion at Wednesday's regular council meeting. There is $215 million in new FY 2013 project authorizations throughout the neighborhoods - so let's see what Menino and some of the councilors believe are the highlights to the FY '03 budget, which begins on July 1, 2012. Overall, the city's budget increased 3 percent over last year, coming in at $2.5 billion for fiscal 2013. That's an annual increase of $72 million. Property taxes continue to be the city’s largest source of revenue, along with hotel, meals and other excise tax revenue. according to city officials. The city’s second largest source of revenue is net state aid from …
shirley kressel
10:50 am on Thursday, March 21, 2013
Yes, our money is being given away to those who don't deserve it -- but it's not those bad poor people and "aliens." It's fabulously rich corporations. The government -- federal, state, and city -- is giving away hundreds of billions of dollars a year to these parasites, in tax breaks, cash grants, land deals, tax-exempt loans, etc., stealing our services and further enriching the rich. Posters … more ›