How Will Jay Pay? Gonzalez Admits College Tax Falls Short, But Won't Offer Any More Plans

BOSTON -- Jay Gonzalez faced so much blowback for his tax on financial aid resources, he's decided to call it quits when it comes to new ideas. Gonzalez freely acknowledged that the college tax his fellow Patrick Cabinet Secretary called "spectacularly bad" won't even cover his entire agenda. But last night, he admitted that the $1 billion tax is all he'll be proposing in new taxes until 2022 - meaning he won't even come close to paying for his $60 billion agenda.

"After taking a major hit for his tax on students' financial aid resources, Jay Gonzalez is now back at square one, with the same problem he's had for months: He won't tell voters how he'll raise their taxes to pay for his outlandish spending," said MassGOP Chairman Kirsten Hughes. "By relying on gimmicks and refusing to come forward with real, credible ideas to pay for his billions in new spending, Gonzalez is demonstrating he's not the serious leader Massachusetts deserves."


Background:

Last Night, Gonzalez Admitted The $1 Billion College Tax Is All He'll Be Proposing Until 2022. "I'm going to raise $3 billion in new tax revenue by asking the wealthy to pay their fair share: A millionaire's tax which would go into effect four years from now, but we can't wait that long which is why I've proposed this endowment tax." ("1-on-1 With Democratic Gov. Candidate Jay Gonzalez," NECN, 10/14/18 - 5:25 mark)


The Graduated Income Tax Plan Cannot Be Revived Until 2022. “It won’t be easy. To impose the tax on high earners would require more than half of legislators to green light the proposal in two consecutive two-year legislative sessions— perhaps in 2020 and then in 2022 — and then get the majority of votes on the November 2022 ballot.” (Josh Miller, “Lawmakers are looking at their own millionaires’ tax, but it’s going to take a while,” The Boston Globe, 6/22/18)

But Gonzalez Admits His College Tax Won't Fund His Agenda. “The Democrat now has an answer, even as he acknowledged it won’t cover the cost of all the programs he wants to put in place.” (Josh Miller, “Jay Gonzalez’s revenue plan would tax state’s major colleges and universities,” The Boston Globe, 9/19/18)

BU Daily Free Press: "Gonzalez’s College Endowment Tax Would Hurt Middle And Lower Class Students." "But just because a university has a large endowment doesn’t mean its students are wealthy. In his efforts to equalize education funding, Gonzalez could be harming a large population of lower and middle class college students. If these endowments should go to anything in the immediate future, they should go toward meeting 100 percent of need-based aid and reducing tuition." (Editorial, “Gonzalez’s college endowment tax would hurt middle and lower class students,” The Daily Free Press, 9/20/18)

Gonzalez Has Recklessly Proposed As Much As $60 Billion In New Spending:

Single Payer Health Care: $35 Billion (Promise | Cost*)
Universal Pre-K: $1.48 Billion (Promise | Cost)
North-South Rail Link: $12 – 21 Billion (Promise | Cost)
East-West Rail: $554 – $660 Million (Promise | Cost)
South Coast Rail (Electrified): $3.4 Billion (Promise | Cost) 
Extended Blue Line: $737 Million – $1 Billion (Promise | Cost)