Gov. channels FDR in sweeping speech on economy
Gov. Deval L. Patrick said the state should cut its corporate excise tax rate for small businesses during the recent unveiling of his economic plan at the Massachusetts Institute of Technology.
Authority And Restraint
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.
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, transportation, housing and energy.
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 roads and railways, modernizing public housing and building new affordable units, as well as expanding broadband to underserved communities. Â Â Â Â Â
