The House proposal cuts out increased funding for early education, one of the centerpieces of Patrick's plan.
House leaders on Wednesday proposed a budget that was a billion dollars less than the one Gov. Deval Patrick put forth in January. The $33.8 billion House budget includes increased funding for higher education and local aid but not more money for early education, one of the centerpieces of Patrick's budget that emphasizes prekindergarten funding and investment in transportation. Speaker Robert A. DeLeo said the House budget would not increase these funds over concerns that the Department of Early Education and Care is inefficient and wasteful, the Boston Globe reported. Altogether, the House proposal would raise taxes by $500 million, compared to Patrick's proposed $1.9 billion tax hike. The House plan would result in a 3.9 percent …
While specific deductions would end, personal exemptions would double under the Patrick budget.
A recent analysis of Gov. Deval Patrick's proposed budget finds that it eliminates 44 tax breaks that benefit a large slice of Massachusetts taxpayers. Patrick's $34.8 billion FY2014 budget includes not only a 1 percentage point hike in the income tax – from 5.25 percent to 6.25 percent – but the end of such deductions such as the capital gains from the sale of a person's primary home, college tuition, and contributions to a health savings account. The analysis, by the Massachusetts Taxpayers Foundation, found that the eliminations would raise an additional $1 billion for the commonwealth. But Patrick's assistant secretary for fiscal policy, Gregory R. Mennis, told The Republican that that amount would be offset by the doubling of personal…
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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 …
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M C Stringfellow
8:02 am on Wednesday, February 27, 2013
Aron, I am sorry I did not get back to you earlier, but Murphy;'s law came for a visit. A question, where did you get your information? I would like to read the same along with another book on The Depression. Every one gets a slant from the material they read. One source is not enough. then, I will get back to you on FDR and the Depression and the economy. Have a great day. more ›