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Boston’s Budget Bust: Mayor Wu’s Fiscal Mismanagement

Boston’s Budget Bust: Mayor Wu’s Fiscal Mismanagement

April 9, 2024


Boston– This week Mayor Wu of Boston revealed her budget proposal, a move that would inflate the city’s already bloated budget by a staggering $344 million—an approximate 8 percent surge from the 2024 budget. This unveiling comes at a precarious juncture as the city grapples with a projected $1 billion revenue shortfall in the foreseeable future. 


MassGOP Chairwoman, Amy Carnevale, provided comment on the budget increase stating, “The Mayor finds herself in a financial bind, with commercial real estate values dropping, likely leading to a $1 billion shortfall. All the while, Mayor Wu suggests that the city is experiencing ‘solid revenue growth.’ You can’t have a $1 billion shortfall and simultaneously claim that revenue growth is ‘solid.’ It’s nonsensical.”


“The Mayor’s perceived ace in the hole is her effort to persuade Beacon Hill to permit her to increase commercial real estate taxes. However, a hike in commercial real estate taxes will only result in fewer businesses operating in the city, reduced revenue for the ones that remain, and diminished income for their employees as businesses struggle to balance their books. It’s entirely counterintuitive. Instead of addressing the pressing needs of the situation, the Mayor is doing the exact opposite. Mayor Wu needs to reassess her budget and city operations to identify areas where cuts can be made and savings achieved to rectify the shortfall before considering budget increases,” Carnevale concluded.