Law Commons^™

Fiscal Smell Tests: A Mid-Term Reality Check Of Massachusetts Finances, Joseph S. Slavet, Joseph R. Barresi

John M. McCormack Graduate School of Policy and Global Studies Publications

In his latest budget message the Governor points to achievement of a "real, but fragile fiscal balance. " On the credit side of the ledger, he cites four balanced budgets, reduced reliance on one-time revenues, no new taxes, five tax cuts, no deficit borrowing, and a triple upgrade in bond rating. On the debit side are continued spending pressures, slow tax revenue growth and burdensome levels of debt.

But is the fiscal condition of the Commonwealth stable, albeit fragile? Or would a careful reading of the numbers transmit another message?

The purpose of this report is to measure the Commonwealth's …

After The Revolt: A Framework For Fiscal Recovery, Joseph S. Slavet, Raymond G. Torto

John M. McCormack Graduate School of Policy and Global Studies Publications

Despite the injection of new taxes in the amount of $1 .2 billion in fiscal 1991, and recently announced cuts in the budget of approximately $464 million, the Commonwealth's fiscal condition - irrespective of the outcome of CLT's petition -is precarious. Although the political juices are flowing in Massachusetts, with an eye on November 6th, Massachusetts decision-makers have not faced up to the problems inherent in the long-term, structural spending patterns of the state's budget.

Our five-year budget projection indicates that if expenditure trends continue without dramatic restructuring - particularly in the "non-discretionary" accounts - the Commonwealth faces a steady …

After The Miracle: A History And Analysis Of The Massachusetts Fiscal Crisis: Being A Drama In Five Acts, With An Implied Invitation To The Reader To Participate In The Crafting Of The Final Act, Joseph S. Slavet, Raymond G. Torto, Edmund Beard, Louis C. Dinatale

John M. McCormack Graduate School of Policy and Global Studies Publications

"After the Miracle" documents the factors that have shaped the recent political debate in Massachusetts and are likely to determine continuing economic and fiscal conditions in Massachusetts in the near future. The paper indicates that 1990 may begin a decade of real limits for Massachusetts. The economy has stagnated and the next two years will be a period of deep economic uncertainty. It is also clear that a resurgence, like that of the boom period of the eighties, is unlikely to be replicated.

The 1980's was a period when state-local spending in Massachusetts, propelled by the infusion of double-digit tax …

Residential Tax Exemption Policies: Trends, Impacts And Future Options For Boston, Joseph S. Slavet, Raymond G. Torto

John M. McCormack Graduate School of Policy and Global Studies Publications

This is an extensive report on residential tax exemption issues in the City of Boston with an evaluation of recently proposed revisions in current policies.

Public Policy And The Missing Link: A Progress Report On The Design And Implementation Of The Massachusetts Linked Deposit Program, Jim T. Campen

John M. McCormack Graduate School of Policy and Global Studies Publications

The idea underlying the Massachusetts Linked Deposit Program (LDP), which has been operated by the Treasurer since 1978, is that a portion of the money in the state's General Fund is deposited in Massachusetts banks, with the amounts awarded to individual banks linked to their performance in serving the people and communities of Massachusetts. Bidding banks must offer a required minimum interest rate and must furnish specific information on the composition of their loan and investment portfolios. This information is used to compute a "linked deposit score" for each bank, which provides a basis for linking the awarding of public …

Urban Distress, Educational Equity, And Local Governance: State Level Policy Implication Of Proposition 2 1/2 In Massachusetts, Edward P. Morgan

John M. McCormack Graduate School of Policy and Global Studies Publications

This report examines the impact of Proposition 2-1/2 on different types of communities and the implications of this impact for state aid and state-level policies. The effects of 2-1/2, especially first-year effects in public education, are evaluated from the perspective of four general policy objectives or values: equity, efficiency, accountability, and local autonomy. The primary concern of this report is for various considerations of equity and inequality.

Future Issues Facing Boston: The Assessing Department, Janet L. Hunkel

John M. McCormack Graduate School of Policy and Global Studies Publications

Taxpayers' opinions of municipal government often focus on the property tax. Taxpayers are stingy, and they are critical as to whether their money is purchasing competent services. For citizens to have faith that government is democratic, taxes must be equitable — everyone must pay their fair share. For government to function efficiently, tax administration must be efficient in order to support city services.

The property tax is a complex, difficult tax to administer; it is vulnerable to misuse. However, there have been recent, dramatic changes to the tax laws. Municipal government in Massachusetts now has the political and legal wherewithall …

Boston's Fiscal Future: Prognosis And Policy Options For 1984 To 1986, Joseph S. Slavet, Raymond G. Torto

John M. McCormack Graduate School of Policy and Global Studies Publications

The finances of the City of Boston have been variously affected throughout its long history by regional and national economic cycles, by legal constraints and changes in the state-local tax system and by inter-municipal resource and expenditure disparities.

In more recent years, however, a series of tremors converged to propel Boston's seemingly chronic fiscal problem to the crisis stage. As inflation climbed to unprecedented double-digit levels, an overwhelming majority of the state's populace supported specific limits on property taxes, the primary source of municipal revenue. As a result, Boston was forced to reduce property tax levies by $144 million during …