Friday, April 12, 2013
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 …
Tuesday, March 12, 2013
The program also allows users to develop their own plan and see its effects on their tax bill.
In an effort to further promote his proposed $34.8 billlion budget, Gov. Deval Patrick this week rolled out an online tool that would help families see the effect his plan would have on their bottom line. The tool was released less than a week after Patrick unveiled 400 online maps showing what each district would receive in transportation and education benefits under his tax plan. "We are proposing meaningful investments in education and transportation, and people want to know what that means for them," Patrick said. "Last week, with the maps, we showed what long-postponed projects would get done in each community. Now, with this tool, we show just what the costs or savings will be for individual households." The program not only lets …
Tuesday, February 26, 2013
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…
