Boston colleges face cuts, Healey gives taxpayer-funded handouts

(The Center Square) – Gov. Maura Healey, D-Massachusetts, launched a new initiative that would continue university research, funded by taxpayers, despite federal funding cuts.

Healey is proposing new legislation for the Discovery, Research and Innovation for a Vibrant Economy (DRIVE) Initiative, that would cost $400 million in state funding.

Healey’s legislation would give $200 million to public universities research costs that have been impacted by the Trump administration’s education funding cuts. The other $200 million will go towards a research funding pool at hospitals, universities and other research institutions. The governor’s goal is to grow the Massachusetts economy.

With the federal government continuing to suspend education funding to colleges and universities, a report by the UMass Donahue Institute’s Economic & Public Policy Research Group analyzed the impact federal research and development funding had in Massachusetts.

The report found that annually, over $8 billion in federal research funding that the state of Massachusetts receives fuels $81,300 jobs.

- Advertisement -

“This bill is about creating jobs across industries from construction and food services to health care and education,” said Healey in a news release. “And in the face of uncertainty from the federal government, this is about protecting one of the things that makes Massachusetts so special – our global leadership in health care and helping families across the world.”

The DRIVE initiative will use the “Fair Share surtax revenue,” a tax on residents earning more than $1,000,000 annually in the state, as well as the Commonwealth Stabilization Fund, which taxes excess capital gains and gambling.

Massachusetts has many elite universities that the Trump administration has targeted in education funding cuts. Harvard University lost over $2 billion in federal grants over claims of antisemitism on campus, and the Massachusetts Institute of Technology (MIT) remains under federal investigation over alleged racial discrimination.

Many higher education officials are grateful to Healey for this new taxpayer-funded initiative.

“With the DRIVE Initiative, Governor Healey provides a welcome endorsement of the Commonwealth’s ‘eds-and meds’ ecosystem, which benefits all of us in Massachusetts,” the President of MIT Sally Kornbluth said. “At MIT, our work is crucial to America’s economic strength, global scientific leadership, and national security. Though no other source can replace federal funding for sheer scale, I applaud the Governor’s announcement of a new advisory commission to find ways to sustain the Commonwealth’s leadership in research, education and innovation for decades to come.”

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Sports betting bill still alive in Georgia House

(The Center Square) – A bill that would allow...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Gas Prices Surge in U.S. as Oil Hits $100 Amid Iran Conflict

(AURN News) — Americans are paying more at the...

Superintendent eyes non-classroom layoffs, $30M in savings

(The Center Square) – Milwaukee’s school superintendent says she...

Audit: Rocky Mount hired and managed poorly, costing its residents

(The Center Square) – Lack of diligence in hiring...

NYC religious leaders back Mamdani’s wealth tax

(The Center Square) — Religious leaders are calling on...

With state mandate looming, small businesses struggle to find skilled workers

(The Center Square) – A small business advocate says...

G7 nations not yet ready to release oil stockpiles

(The Center Square) – G7 finance ministers said Monday...

More like this
Related

Gas Prices Surge in U.S. as Oil Hits $100 Amid Iran Conflict

(AURN News) — Americans are paying more at the...

Superintendent eyes non-classroom layoffs, $30M in savings

(The Center Square) – Milwaukee’s school superintendent says she...

Audit: Rocky Mount hired and managed poorly, costing its residents

(The Center Square) – Lack of diligence in hiring...