Saturday, April 6, 2013
Should the state forge ahead with Gov. Deval Patrick's bold plan to invest now? Or should it follow the Legislature leadership's proposal to address the bottom line before embarking on bigger initiatives?
Massachusetts legislators this week answered Gov. Deval Patrick's ambitious plan to raise $1.9 billion for transportation and education with a $500 million plan of their own, which says the governor is asking for too much, too soon as the Bay State shakes off the effects of the Great Recession. Who's right? Should the state forge ahead in a bold plan to invest now? Or should it cautiously address the bottom line before embarking on bigger initiatives? While Patrick's plan includes funding for both the state transportation system and increased education funding from preschool through college, House and Senate lawmakers eschew new revenue for education, focusing solely on closing the transportation budget gap over the next five years. The …
Friday, January 25, 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, January 15, 2013
The board of the Massachusetts Department of Transportation released its 21st Century Transportation Plan, which outlines the state’s budgetary needs over the course of the next 10 years and beyond.
With infrastructure in need of repairs and the major city transit system steeped in billions of dollars of debt, the state may need to increase revenue from car registrations, license renewals, taxes and tolls. The Board of the Massachusetts Department of Transportation released its 21st Century Transportation Plan on Monday, which calls for a $13 billion overall investment in state transportations systems over the next decade. The breakdown is as follows, according to a statement associated with the plan released by Transportation Secretary and CEO Richard A. Davey: To raise the necessary funds these recommendations will include an increase in the gas tax, payroll tax, sales tax or income tax; a new green fee on vehicle registrations; a …
Friday, November 23, 2012
Gov. Deval Patrick plans to ask lawmakers to raises taxes to make up for the shortfall in Massachusetts' transportation system. What options should they consider and what's off the table?
Would you be willing to pay more at the pump, have a tracking system on your car that taxes you by the mile, or see tolls on state highways? Those are just some of the possibilities looming as Massachusetts looks to erase the state's transportation system's deficit. The Boston Globe reported that Gov. Deval Patrick will ask lawmakers to raise taxes in order to pay for a transportation system—from the MBTA to roads and bridges—that continues to operate in the red. The administration will present a specific proposal by Jan. 7. One option is raising the gas tax, a route Patrick sought in 2009 only to be rebuffed by the legislature. Patrick sought a 19 cent increase while business groups endorsed a 25 cent increase. Ultimately, the state …
Andrew Sylvia
9:26 pm on Tuesday, April 9, 2013
Bottom left of the page under "About Patch" more ›