By Brooke Sutherland and Sri Taylor Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect homeowners from the brunt of the historic slump in office property values. Wu has submitted a petition for a temporary increase of the city’s tax-rate ceiling for commercial properties relative to residential levies. The proposal aims to redistribute the tax burden […]
The Inflation Reduction Act of 2022 that President Joe Biden signed into law on August 16 would reduce cumulative deficits by $264 billion over its 10-year budget window, according to a study by the Penn Wharton Budget Model (PWBM), a nonpartisan research initiative that analyzes the fiscal impact of public policy. PWBM’s estimate on the deficit reduction was lower than […]
by Bryan Mena / via the Wall Street Journal The U.S. economy grew at a modest to moderate pace from mid-January through early February as the Omicron variant of Covid-19 disrupted businesses and held back consumer spending, the Federal Reserve said Wednesday. The Fed’s periodic compilation of business anecdotes from around the country, known as the Beige […]
by Jeanna Smialek / via The New York Times The Federal Reserve lifted its key interest rate by a quarter of a percentage point on Wednesday as policymakers took their first decisive step toward trying to tame rapid inflation by cooling the economy. The Fed had kept rates near zero since March 2020, and the decision marked […]
President Obama released the budget of $100 million in federal fiscal year 2015 supporting the MBTA (Massachusetts Bay Transportation Authority) Green Line Extension project (GLX) which benefits the economy and environment of Somerville and Medford communities in the upcoming several years. “The Green Line Extension offers Somerville and the region both economic justice and environmental […]
