Tag Archive for: economy

Baystate Budget Blues: Declining Revenue Causes Concern

Joe Selvaggi engages in a conversation with Pioneer Institute’s Eileen McAnneny, Senior Fellow for Economic Opportunity, to analyze the status of the 2024 budget. They compare actual revenue and spending with pre-July 1 estimates, investigating potential reasons for any surpluses or shortfalls. They also dive into policy implications for legislators as they approach fiscal 2025.

My Musings on Massachusetts’ Fiscal Picture

Since the start of FY2024 on July 1, 2023, the state has experienced six straight months of revenues falling short of expectations. The single biggest factor is the unprecedented growth of the state budget since FY2021. The $15 billion increase in state spending contextualizes the seemingly modest projected revenue growth of 1.6 percent for FY2024 by highlighting that the base is very inflated.

A nuclear winter is coming for biopharma

The life sciences sector in Massachusetts — which has been flying so high for so long — is about to experience a very hard landing. With the adoption of prescription drug price controls in the Inflation Reduction Act (IRA), drug research and development — the heart of the life sciences sector in Massachusetts — is about to experience a nuclear winter.

Virtual Policy Briefing: Exploring the Intersection of Vocational-Technical Education and the Life Sciences Sector

Massachusetts is the nation’s leader in vocational-technical schooling and home to the most dynamic life sciences sector in America. We invite you to join us for a webinar on the nexus between the Bay State’s educational, life science, and competitive human capital needs in the 21st-century global economy.

University Science Research Is Under Threat

The Biden administration's formation of a working group to “develop a framework for the implementation of the march-in provision of the Bayh-Dole Act" could have serious adverse consequences for university research and biopharmaceutical innovation. It represents a particularly dangerous threat to the thriving life sciences cluster in Greater Boston.

John Steele Gordon on America’s Economic Rise

This week on The Learning Curve, guest co-hosts Charlie Chieppo and Derrell Bradford interview John Steele Gordon, the author of 10 books on business, economic, and technology history. They discuss the keys to America’s transformation into the world’s foremost economic power and its economic prospects for competitiveness in the twenty-first century.

Hampden County Resilience: Thriving Despite Manufacturing Decline

Hampden County has experienced decline in its manufacturing sector, a former backbone of its economy. However, the county has still experienced this in spite of this, showing growth in new sectors.

Study: Immigrant Entrepreneurs Benefit N.E. Economy, Despite Facing Obstacles to Growth

BOSTON – Immigrants in Massachusetts and New England are more likely to be self-employed, but the businesses they own tend to be in different industries than those owned by the U.S. born, according to a new study published by Pioneer Institute.

Dodging Debt Default: Who Won Congressional Cage Match Compromise

Joe Selvaggi talks with CATO Institute budget expert Chris Edwards about the details of the newly passed Fiscal Responsibility Act, which avoids crossing the debt ceiling in exchange for slowing spending growth.

Benjamin F. Jones Shows How Immigrants Are a Boon for the U.S.

Prof. Benjamin F. Jones, former economic advisor in the U.S. Treasury and a professor at the Kellogg School of Management at Northwestern University, analyzes data that show immigrants are far more likely to start a business in the U.S. and are innovating at higher rates, benefiting the nation.

Losing Talent and Treasure: Uncompetitive Tax Regime Drives Upper-Income Exodus

Joe Selvaggi talks with Pioneer Institute's Economic Research Associate Aidan Enright about his new paper "Debunking Migration Myths." With this research, Aidan examines the link between Massachusetts' tax regime and the outflow of high earners to states with more competitive rates.

Silicon Valley Bust: Bank Failure’s Causes, Cures, and Culpability

Joe Selvaggi talks with financial market and monetary policy expert Dr. Norbert J. Michel about the causes for the failure of Silicon Valley Bank and the what its demise portends for depositors, the banking sector, and the regulatory regime that governs it.

Erick Widman, Esq.: Immigrants Can Ease Worker Shortage

The immigration system in the United States is complex, to say the least. Visa categories for nearly every letter of the alphabet, exemptions, restrictions, rule changes with every new federal administration. We need more workers, innovators and entrepreneurs in an increasingly competitive world and amid an historic worker shortage and cash-strapped social safety systems due to a greying workforce. Does the United States’ immigration system work in its favor?

Realizing Rent Control: Targeted Tenant Relief or Broad-Based Road to Ruin

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Joe Selvaggi talks with Greater Boston Real Estate Board’s President and CEO Greg Vasil about the likely effect on all residents of Boston of Mayor Wu's rent control proposal now before the City Council.

Innovation Reduction Act: Price Controls’ Prescription for New Therapies

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Joe Selvaggi talks with Pioneer Institute’s senior fellow Dr. Bill Smith about the changes to drug pricing laws included in the recently passed Inflation Reduction Act provisions and discuss who wins and loses as drug companies announce their response to new law.

The Causes and Potential Cures for Inflation

This week on Hubwonk, Harvard economist and Pioneer Institute board member Ed Glaeser interviews Larry Summers, former U.S. Treasury Secretary and President Emeritus of Harvard University, for a special episode on the origins of inflation, its impact on the American economy, and a roadmap to recovery.

What’s going on with the economy in Cambridge?

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Dubbed the city of squares, Cambridge, a leading innovation center,…

Taxation Without Legislation: Exploring Inflation’s Causes, Curses & Cures

Hubwonk host Joe Selvaggi talks with Bloomberg Columnist and National Review Editor Ramesh Ponnuru about the reasons for the sustained spike in inflation, its impact on savers and consumers, the possible policy remedies, and the likely intensity and duration of this cycle.

Barnstable County: What Towns Tax the Most?

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The housing market has been the center of American economic growth…
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Healthcare Employs More on Cape Cod Than Any Other Sector

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Despite being a major tourist destination, the largest employment sector on Cape Cod is not related to tourism: it is healthcare!

Invisible Hand Revealed: Economic Lessons in Everyday Life

Hubwonk host Joe Selvaggi talks with Matthew Hennessey, Wall Street Journal editor and author of Visible Hand, A Wealth of Notions on the Miracle of the Market, about how the principles of economics manifest themselves in our every day lives and how we can use that insight to better understand our personal and civic choices.

School Expenditures in the 2019 and 2020 School Years

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The Massachusetts K-12 school system has been regarded as the…

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.

The Big Lure: Interstate Competition Exacerbates the Economic Fallout from Telecommuting Trends

This report finds that 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.

American Rescue Plan Gives States Money, Ties Their Hands

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For state governments, the good news is that the American Rescue Plan recently signed by President Biden will inject $350 billion into their budgets. The bad news is that it places unwise and possibly unconstitutional limitations on how states can use the money.

Sandro Catanzaro Takes His American Dream to Mars and Back

This week on JobMakers, host Denzil Mohammed talks with Sandro Catanzaro, who started several businesses in his native Peru but had no idea he’d end up helping NASA go to Mars, or that he’d use that same technology to plan and buy video ad campaigns. Now Head of Publisher Services Strategy for Roku, which acquired the company he founded, dataxu, in 2019, Mr. Catanzaro is an emblem of ingenuity and inventiveness. His demand-side platform, device graph technology and analytics platform help accelerate Roku’s ad tech roadmap and ability to serve a wide array of advertisers. But he’s not done yet!

Study: Graduated Income Tax Proponents Rely on Analyses That Exclude the Vast Majority Of “Millionaires” to Argue Their Case

Advocates for a state constitutional amendment that would apply a 4 percent surtax to households with annual earnings of more than $1 million rely heavily on the assumption that these proposed taxes will have little impact on the mobility of high earners. They cite analyses by Cornell University Associate Professor Cristobal Young, which exclude the vast majority of millionaires, according to a new study published by Pioneer Institute.

Tag Archive for: economy