Massachusetts voters will soon be asked to vote on nine ballot questions. One that has received little public discussion is Question 5, which would require the state to return money to taxpayers whenever revenues grow faster than the average growth of wages and salaries. Shrouded in technical language, this ballot question is a poison pill that would be devastating for our commonwealth.
Because Question 5 would require the state to return money to taxpayers any time revenues grow substantially, it would prevent the state from ever replenishing its rainy day fund once the fund was drained. It would also have the effect of shrinking the state budget with each significant economic downturn.
As MIT economist Jonathan Gruber wrote in a recent Boston Globe editorial, Massachusetts Needs to Save for a Rainy Day, “Economic shocks — like in 2002 and 2009 — have two effects: they lower state revenues, and they raise the demand on state spending to help those who have been hurt. So what do states do? They set aside money to use in bad times — a rainy day fund…with the understanding that bad times are followed by good, and that tax revenues will rise again…But rainy day funds only work if they can be replenished.”
In other words, Question 5 would deprive the state of revenue and flexibility at the times when those are most needed.
Passage of Question 5 would also hurt Belmont by leading to reductions in state aid. As the volunteer manager for the 2024 Invest in Belmont override campaign, I am acutely aware that any loss of state aid would lead to more frequent overrides, service cuts, or both.
Question 5 is bad for Massachusetts and bad for Belmont. Please join me in voting No.
Erin Rowland, Goden Street
