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Report disputes Gov. Patrick's numbers26 October 2007MASSACHUSETTS -- As reported by the Boston Herald: "Gov. Deval Patrick's three-casino proposal overestimates the amount of tax revenue for the state by nearly $100 million a year and would have only a minor impact on skyrocketing property tax bills and transportation needs, a new report concludes. "The report, released today by the Massachusetts Taxpayers Foundation, finds that the governor's proposal would fall far short of what the administration has promised to taxpayers in financial benefits and infrastructure improvements. "...The taxpayer foundation estimates the total cost of Patrick's plan to hold the Lottery harmless and provide three percent annual increases would cost $144 million a year by 2012. When combined with $100 million to pay for infrastructure and public health costs, that would leave the state with only $308 million in revenue. "That is far short of the $400 million estimated by Patrick, who wants to use gaming proceeds to pay for property tax relief and efforts to repair bridges and roads statewide. "The report found that even if casinos generate $400 million, the $200 million for property tax relief and $200 million for transportation would do little to relieve demands on either front..." |