Press Releases on the Massachusetts Economy

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Study Says Massachusetts Surtax Proposal Could Reduce Taxable Income in the State by Over $2 Billion

As voters now begin to weigh the potential impact of a ballot proposal to increase taxes on business owners, retirees and wealthier households, a new literature review by Pioneer Institute shows that many existing academic studies find that wealthy individuals are particularly sensitive to changes in tax policy. Other studies explicitly warn policymakers that behavioral responses to taxing the rich could erode the tax base and ultimately strain state budgets.
June 17, 2021/by Editorial Staff

Unintended Tax Consequences: Modeling the Effects of the Millionaire’s Tax on Massachusetts’ Economic Future

Hubwonk host Joe Selvaggi talks with Beacon Hill Institute President Dr. David Tuerck about his recent analysis of the proposed 4% surtax on incomes over $1 million in Massachusetts, and his estimate of the number of individuals who will leave the state as a result. Tuerck, an economist, used STAMP modeling tools comparing the static projections offered by proponents of the so-called "Fair Share Amendment" with a model simulation that accounts for the unintended effects of the tax.
June 15, 2021/by Editorial Staff

How do employment trends differ between urban and rural Massachusetts from 1999-2019?

To better understand these statistics, data available on employment across Massachusetts counties is helpful. This blog will investigate the employment trends in Franklin and Middlesex Counties from 1999-2019.
June 11, 2021/by Maida Raza

Dr. Babak Movassaghi on Winning in Football & Healthcare Innovation

This week on JobMakers, Host Denzil Mohammed talks with Dr. Babak Movassaghi, founder of InfiniteMD (acquired last summer by ConsumerMedical), which connects patients with top U.S. medical professionals through second-opinion video consultations, guiding patients to better care. When the world shut down due to COVID-19, Dr. Movassaghi's company was already prepared to serve patients via telehealth. In this episode, they discuss his fascinating pivot from physics and professional football in Germany, to healthcare and innovation here in the U.S., an extension of his ability to navigate multiple identities as an Iranian-German living the American Dream.
June 10, 2021/by Editorial Staff

COVID-19 and Unemployment Rates in the Cape and Islands 

 

The COVID-19 pandemic has had a large impact on unemployment…
June 10, 2021/by Emily Donovan

This Is No Time for a Tax Increase

This is no time to threaten Massachusetts’ prospects for an immediate economic recovery and the long-term competitiveness of the Commonwealth’s businesses. As Massachusetts lawmakers prepare to vote on whether to send a proposed constitutional amendment that would impose a 4 percent surtax on residents who earn $1 million or more in a year to the statewide ballot in 2022, Pioneer Institute urges them to recognize that tax policy sizably impacts business and job location decisions and that jobs are more mobile than ever.
June 9, 2021/by Editorial Staff

Jitka Borowick on Starting a Small Business during COVID

This week on JobMakers, Guest Host Jo Napolitano talks with Jitka Borowick, Founder & CEO of Cleangreen, a cleaning service committed to environmentally-friendly practices, and Nove Yoga, launched during COVID. Jitka grew up under communism in the Czech Republic. Determined to learn English, she made her way to the U.S., initially with plans to stay for only one year - but ended up making it her home. Jitka shares the difficulties of learning another language and culture, her pathway to entrepreneurship, her courageous decision to open a new business during a pandemic, and how her companies have successfully adapted to the challenges so many small businesses have encountered over the past year.
June 3, 2021/by Editorial Staff

Study Finds Deep Flaws in Advocates’ Claims that the Massachusetts Tax Code is Regressive

Proponents of a state constitutional amendment to add a 4 percent surtax on all households with annual income above $1 million frequently cite 2015 data from the Institute on Taxation and Economic Policy, which argues that the Massachusetts tax code is regressive, but a new study published by Pioneer Institute debunks many of the underlying assumptions used in ITEP’s 2015 report.
June 1, 2021/by Editorial Staff

Josh Feast Answers the Call with AI

This week on JobMakers, Guest Host Jo Napolitano talks with Josh Feast, the CEO and Co-Founder of Cogito, a Boston-based software company that deploys Artificial Intelligence (AI) to help employers in a wide variety of industries improve their customer service call centers. They discuss the many applications of Artificial Intelligence, how it helps provide emotional intelligence to augment management practices at large organizations, and how to address some of the concerns about privacy and bias that have been raised around its use.
May 27, 2021/by Editorial Staff

Mahmud Jafri Builds on a Pakistani Legacy in America

This week on JobMakers, Host Denzil Mohammed talks with Mahmud Jafri, who built on a legacy started by his grandfather and began importing hand-knitted rugs from his native Pakistan, creating opportunities especially for women who traditionally couldn’t work outside the home. Today, he has three Dover Rug & Home stores across Massachusetts, including the Back Bay.
May 20, 2021/by Editorial Staff

Pipelines Are Infrastructure: Colonial Incident Reveals Dark Side of Cyber Vulnerability

This week on Hubwonk, Host Joe Selvaggi talks with cyber security expert Dr. Brandon Valeriano about the Colonial Pipeline shutdown and our national exposure to cyberattack on vital infrastructure.
May 18, 2021/by Editorial Staff

Larry O’Toole on Workplace Culture & Immigration Policy

On this week's episode of JobMakers, host Denzil Mohammed talks to Larry O’Toole, founder of the multi-state Gentle Giant Moving Company that started in 1980 right here in the Boston area. They discuss Mr. O'Toole's journey at a young age from Ireland to Brookline, Mass., the challenges of being uprooted, and the ability to thrive despite barriers such as skills gaps, that many immigrants face.
May 13, 2021/by Editorial Staff

Fair Share Amendment: Weighing Costs & Benefits for Massachusetts’ Economy & Workers

Hubwonk host Joe Selvaggi talks with Pioneer Institute’s Executive Director Jim Stergios about HB86, the so-called Fair Share Amendment, to tax Massachusetts household income above $1 million. They discuss its promises, its costs, and the effects of similar legislation in other states.
May 11, 2021/by Editorial Staff

Amar Sawhney on Sikhs, STEM & COVID

On this week's episode of JobMakers, host Denzil Mohammed talks to Dr. Amar Sawhney about his journey from India to Boston, and how he is using his chemical engineering background to save lives through remarkable local therapy innovations. To date, he has founded eight companies accounting for 4,000 jobs and more than $2 billion in revenue.
May 6, 2021/by Editorial Staff

Study Says Interstate Tax Competition, Relocation Subsidies Exacerbate Telecommuting Trends

A spate of new incentive and subsidy programs seeking to lure talented workers and innovative businesses away from their home states could constitute an additional challenge to Massachusetts’ economic and fiscal recovery from COVID-19, according to a new study published by Pioneer Institute.
May 5, 2021/by Editorial Staff

Max Faingezicht on the Skills Gap & the Future of Work

This week on JobMakers, host Denzil Mohammed talks with Max Faingezicht, an immigrant who founded ThriveHive, a marketing software company for small businesses, and Telescoped, which uses remote software engineering to connect Latin American engineers with U.S. companies in need of their skills. The entrepreneurial ecosystem of Boston and Cambridge have allowed Max to achieve dreams he didn’t even know he had when he arrived. In this episode, he shares his fascinating immigration story, as well as his ideas on where workers go next.
April 29, 2021/by Editorial Staff

7 Reasons to Reject the Graduated Tax and Instead Focus on Growing Jobs

Pioneer Institute's Statement before the Joint Committee on Revenue In Opposition to: HB 86 (Pages 1-4), a legislative amendment to the Constitution to provide resources for education and transportation through an additional tax on incomes in excess of one million dollars.
April 28, 2021/by Editorial Staff

Study Warns Massachusetts Tax Proposal Would Deter Investment, Stifling the “Innovation Economy”

A state constitutional amendment promoted by the Massachusetts Teachers Association and the Service Employees International Union adding a 4 percent surtax to all annual income above $1 million could devastate innovative startups dependent on Boston’s financial services industry for funding, ultimately hampering the region’s recovery from the COVID-19 economic recession, according to a new study published by Pioneer Institute.
April 26, 2021/by Editorial Staff

Hilda Torres Makes the Grade

This week on JobMakers, host Denzil Mohammed talks with Hilda Torres, an immigrant from Mexico who runs My Little Best Friends Early Learning Center in Malden, Massachusetts. One of the most successful businesses in the city, the center enrolls over 100 students whose parents come from more than 25 different countries. In this episode, Hilda shares how she used the tools of education, and her own grit and determination, to make her mark in the land of opportunity.
April 22, 2021/by Editorial Staff

Study Shows the Adverse Effects of Graduated Income Tax Proposal on Small Businesses

The state constitutional amendment promoted by the Massachusetts Teachers Association and the Service Employees International Union to add a 4 percent surtax to all annual income above $1 million will adversely impact a significant number of pass-through businesses, ultimately slowing the Commonwealth’s economic recovery from COVID-19, according to a new study published by Pioneer Institute.
April 20, 2021/by Editorial Staff

Hong Tran Goes from Refugee to Realtor

This week on JobMakers, host Denzil Mohammed talks with Hong Tran, a Worcester, Massachusetts-based realtor and small business owner who emigrated to America as an orphaned refugee from Vietnam.
April 15, 2021/by Editorial Staff