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 …
Friday, April 27, 2012
A look at the Chapter 70 funding estimated for the next fiscal year.
State education funding is complicated and contentious, which can make for a controversial topic in communities. The funding is given to every Commonwealth community by the state each year to help pay for education costs. Essentially, the state uses a formula to determine how much it will cost a community to educate its kids. Then it determines how much the community can raise in property taxes to pay for education. The state aid given is used to cover the difference. Communities can chip in more to without hurting its state funding -- called Chapter 70 -- total; the whole exercise is done to make sure there’s a minimum standard met. Medford would receive $11,047,553 under a budget recently passed by state legislators. Malden is expected …
Andrew Sylvia
9:26 pm on Tuesday, April 9, 2013
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