AIM: Budget Won't Balance On Backs Of Businesses
The Associated Industries of Massachusetts says the state must spend more wisely and avoid creating new government entities if it is to bridge its budget shortfall and spur economic growth.
In a letter to the state Senate, John R. Regan, AIM's executive vice president of government affairs, argues that the state can't simply tax its way out of a budget gap that may reach $5 billion next year. Increases to the sales, income and gasoline taxes would be counterproductive and make the state less competitive, Regan argues.
He said businesses are particularly troubled by "the frequent and substantial changes made to the tax code" and calls for increased disclosure from companies receiving tax credits.
AIM comes out in favor of funding the state's workforce training fund at $21 million and providing funding for the Massachusetts Manufacturing Extension Partnership, a program that helps manufacturers operate more efficiently and competitively.
Regan said AIM would prefer reform over revenue and urges the senate to oppose the creation of new government entities like the Health Care Outreach and Enrollment Unit.
The state "cannot be cavalier about taxing businesses or the services they provide and/or consume," Regan argues. Stronger efforts toward job retention and job creation will allow tax revenues to rise to a level that fully supports the state budget, he said.
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