jackiedoherty.org

News, schools, and views from a uniquely Lowell perspective
30th March 2007

NPA Legislative Breakfast

posted in Local Politics |

The fifth annual NPA Legislative Breakfast was held this morning with over 100 people from local agencies and organizations in attendance.  The local delegation was represented by Rep. Kevin Murphy and State Senator Steve Panagiotakos.  Steve Panagiotakos, who is slated to be head of the Senate Ways and Means committee, told the audience that revenue growth will likely remain flat at about 3% for this year and next year. As this does not even keep up with the rise in healthcare costs, it will be a struggle just to maintain current programs and services, never mind increasing funding.  The current projected gap between revenues and expenses is over $1 billion (about 4% of a $26 billion dollar budget). In the last 2 years, revenues grew by 6%, but that was mostly fueled by capital gains. As the Senator pointed out, with the stock market stuttering and the real estate market wavering, capital gains are no longer a reliable revenue source. Income tax is the most stable source of revenue and Kevin Murphy urged the audience members to be outspoken in the media about the need for increased revenues. Increasing jobs, closing corporate loopholes, giving local municipalities the power to tax meals and hotel (something that most states already do) or tax utility poles (could bring $1million in revenue to Lowell) were all mentioned as ways to close the gap. 

Comments are closed.

  • Blogroll

  • Contact Us

  • Education Links

  • Local Groups

  • Local media