April 9, 2008
Patrick Pushes Fiscal Discipline, $16B In Projects
By Matthew L. Brown
Gov. Deval L. Patrick said the state should cut its corporate excise tax rate for small businesses during the unveiling of his economic plan today at the Massachusetts Institute of Technology.
Patrick also announced the imposition of a moratorium on the eviction of renters from foreclosed properties and said the Massachusetts Housing Partnership and the Massachusetts Housing Investment Corp. have agreed to fund $20 million to buy foreclosed properties.
Patrick said he would continue to push for the development of mixed-use communities in places like Gateway Park in Worcester.
According to a copy of the speech Patrick was scheduled to give, the administration has proposed $344 million in state budget cuts and "a disciplined approach to the use of rainy day funds." However, Patrick also outlined aggressive plans for state investment in higher education, transporation, housing and energy.
"State government is too fiscally constrained to ride to the rescue at times of broad, national economic distress," Patrick said.
But he said that by summer state government would have the authority to undertake a $16 billion public infrastructure improvement program. He said the program would put people to work repairing or rebuilding roads and railways, modernizing public housing and building new affordable units, expanding broadband to underserved communities, renovating state college and university campuses, improving beach, park and recreational facilities, and preserving open spaces.
Patrick also announced the imposition of a moratorium on the eviction of renters from foreclosed properties and said the Massachusetts Housing Partnership and the Massachusetts Housing Investment Corp. have agreed to fund $20 million to buy foreclosed properties.
Patrick said he would continue to push for the development of mixed-use communities in places like Gateway Park in Worcester.
According to a copy of the speech Patrick was scheduled to give, the administration has proposed $344 million in state budget cuts and "a disciplined approach to the use of rainy day funds." However, Patrick also outlined aggressive plans for state investment in higher education, transporation, housing and energy.
"State government is too fiscally constrained to ride to the rescue at times of broad, national economic distress," Patrick said.
But he said that by summer state government would have the authority to undertake a $16 billion public infrastructure improvement program. He said the program would put people to work repairing or rebuilding roads and railways, modernizing public housing and building new affordable units, expanding broadband to underserved communities, renovating state college and university campuses, improving beach, park and recreational facilities, and preserving open spaces.
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