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Tag Archives: Massachusetts Budget Crisis
The Boston Foundation Education Health Care Report
The Boston Foundation and the Massachusetts Business Alliance for Education issued a report last month dealing with education funding in Massachusetts. The report looked at the financial impacts of the Education Reform Act, and how the larger amounts of state … Continue reading
Posted in Uncategorized
Tagged Massachusetts Budget Crisis, Municipal Health Care Reform
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Massachusetts Fiscal Forecasts
The Massachusetts Taxpayers Foundation, following the consensus revenue hearings on Beacon Hill, has released a primer on the outlook for the next fiscal cycle in Massachusetts, with the forecast looking less than rosy. The outlook is cloudy despite a pretty … Continue reading
States Begin to Teeter
A pretty good 60 Minutes report showing some of the real budgetary problems facing states and localities, with a prominent role for New Jersey Governor Chris Christie. The State of Massachusetts is looking at a $1.5 to $2 billion dollar … Continue reading
Posted in Municipal Finance, National News, State News
Tagged Massachusetts Budget Crisis
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State Finds New Red Ink
Massachusetts yesterday announced a new budget shortfall for this fiscal cycle, with Secretary Gonzalez indicating that the shortfall could be up to $295 million, leading to charges by Charlie Baker of fiscal ineptitude by the Governor. From the Baker campaign: … Continue reading
The Governor Spares Local Aid
Governor Deval Patrick unveiled his plan to close a $600 million dollar budget gap yesterday, sparing the main local aid accounts and imposing varied cuts against state spending, including the potential for 2000 state layoffs. The Governor was and is … Continue reading
State Budget Cuts Coming
The Governor last week, in light of poor tax collection data, has been forced to once again downgrade state revenue estimates, calling for a $600 million dollar budget reduction in order to achieve balance at the lower number. He will … Continue reading
The Unspoken Truth
Today’s Globe has a column by Sam Allis talking about what no one else seems to want to talk about, the spiraling and unsustainable numbers involved in municipal health care and pensions. Allis centers his discussion on the Mayor’s race … Continue reading
Posted in Municipal Finance, State News
Tagged Massachusetts Budget Crisis, municipal finance
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September Revenues Take a Hit
Massachusetts revenues have fallen substantially below budget projections in September, with estimates that the gap could be as high as $200 million. Final figures for the month are not complete, but the figures in hand have set off alarm bells … Continue reading
The Transportation Dance
The Transportation funding disputes continue to fester on Beacon Hill, with the Governor and Senate leadership continuing to squabble, issue statements, issue clarifications to statements, and when all else fails issue statements assigning blame to each other. After the last … Continue reading
Sales Tax Increase Passes Senate
The increase in the sales tax passed the State Senate tonight, increasing the rate to 6.25%. This increase is exactly what the House passed, and guarantees the Governor will be faced with the issue of holding to his veto threat … Continue reading