$5 Million for Local Projects Await Baker’s Signature
State Senator Adam Hinds announced Friday that the Massachusetts House and Senate enacted the final FY22 state budget, which is now on the Governor’s desk. The $47.7 billion spending plan contains nearly $5 million for local projects throughout the Berkshire, Hampshire, Franklin & Hampden Senate District first secured by Hinds during the Senate budget debate in May, which includes $4 million for the Rural School Aid grant program that he established in 2018.
As we remerge from the COVID-19 pandemic, a key aspect of our state’s economic recovery is to actively incentivize increased investments in our small towns. That begins with the legislature investing in our communities now so that they may see long-term economic growth. Every dollar invested in rural communities is another step toward addressing regional inequities and closing the gap between rural and urban areas in our Commonwealt
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Will there be a global deal on corporate taxation of multinationals later this year?
The Financial Times reports that Group of Seven countries is closing in on an agreement. France, Germany and Italy think the US offer of a15 percent global minimum tax could set the stage for an international deal by July. United Kingdom Prime Minister Boris Johnson also welcomes the US commitment to a tax on digital companies. Treasury Secretary Janet Yellen will meet with G-7 finance ministers in early June.
Less progress on a bipartisan infrastructure bill. White House aides say the president is willing to keep talking to Senate Republicans but one top GOP lawmaker, Roy Blunt, says his party may pull the plug on negotiations in “a week or 10 days.” Democrats increasingly are skeptical that Republicans will agree to any bipartisan bill.
The Massachusetts state flag flies in front of the State House. (Jesse Costa/WBUR)
Massachusetts Senate Democrats on Tuesday unveiled a $47.6 billion spending plan for fiscal year 2022 that aims to repair economic damage from the pandemic.
The Senate Ways and Means Committee s budget calls for increasing state spending by $1.2 billion, or about 2.6% above the fiscal year that ends June 30. It includes spending $1.8 billion more than the version Governor Charlie Baker proposed in January and $64 million less than the spending bill the House approved last month.
Senate President Karen Spilka said the budget bill seeks to put us on a stable fiscal footing and build a more inclusive and resilient commonwealth for all of us.