Patrick's Budget: Can State Afford It Right Now?
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 hikes 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 people …
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Kathleen
3:54 pm on Wednesday, April 10, 2013
People ought to check out how much the state's higher education system is paying people these days. Secretaries making close to $100K. Any funding going to higher ed isn't going to pay people back by way of lower tuition costs for the tax payers who are struggling to put their kids through college. It's a farce. Every administrator in the system will be getting another big fat raise. I didn't … more ›