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Budget Monitor: The FY 2009 House Ways and Means Budget
April 24, 2008
The House Ways and Means Committee ("HWM") budget is a cautious, no-frills spending plan that features few new initiatives, the elimination of millions of dollars of earmarks, and a lower bottom line than that proposed by the Governor in his budget proposal. As the national economy continues to weaken, this budget proposal appears to be aimed at preparing the state for challenging fiscal conditions.
This Budget Monitor analyzes the HWM budget proposal and compares its recommendations to prior year spending levels and to the Governor's proposal.
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MassBudget Brief: House Action on Loophole Closing Legislation
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April 24, 2008
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On April 10th the Massachusetts House of Representatives approved legislation that includes both reforms that are likely to reduce corporate tax avoidance and tax rate cuts for corporations and financial institutions. During debate, the House adopted a number of amendments: the rate cut for corporations was reduced; a new rate cut for financial institutions was added; money from the tobacco tax was earmarked for Health Reform; and an amendment was adopted re-writing the section on Combined Reporting in a way that creates a series of new, and expensive, loopholes and other tax avoidance opportunities.
This MassBudget Brief explains the legislation approved by the House, with special attention to amendments adopted during the budget debate.
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Letter from DOR to Senate President Murray
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April 18, 2008
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Fiscal Year 2009 House Ways and Means Budget Preliminary Analysis
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April 16, 2008
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As the state faces increasingly difficult fiscal challenges, the FY 2009 Budget recommended by the House Committee on Ways and Means (HWM) is an austerity budget. It holds spending at or below the cost of providing current services in almost all areas and imposes significant cuts as well.
The budget does keep two major commitments that have been made by the Legislature: it fully funds the scheduled increase in Chapter 70 local aid for education, and it appears to provide adequate funding to maintain the Commonwealth’s commitment to expand access to healthcare.
While the HWM budget proposes some higher funding levels than the Governor, such as in higher education, this budget does not introduce major new initiatives. The HWM budget does recommend funding for some of the Governor’s new proposals, but it generally funds them at significantly lower levels than the Governor requested.
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The Massachusetts Budget and Policy Center (MBPC) provides
independent research and analysis of state budget and tax policies,
as well as economic issues, that affect low- and moderate-income
people in Massachusetts.
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More Information
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Boston, MA 02108
