Former Gov. Deval Patrick set the precedent years ago when he proposed spending $1 billion to boost the local biotechnology sector. So Gov. Maura Healey’s plan to spend $400 million to boost scientific research across the state, amid Trump administration cuts, isn’t exactly radical. In fact, it’s a good idea in general. But I have problems with the timing and proposed funding sources. Re the timing: let’s see how negotiations go between the Trump administration and Harvard before jumping into the funding breach. After Harvard, MIT and possibly Tufts etc. are next on the Trump ideological shakedown list. Let’s see what happens with them too. … Among other things, my fear is the Trump groupies will see the Massachusetts funding moves and conclude they can simply deduct that amount from final federal funding tallies. … Re funding sources: dipping into proceeds from the millionaire’s tax is a real stretch in terms of what the surcharge is supposed to fund (transportation and education). And using interest from the state’s rainy day fund? That fund is for recessionary periods – and for all state programs. Leave it alone. …
What the state needs is a well thought out funding plan, similar to what was done in 2008 with Patrick’s 10-year Massachusetts Life Sciences Initiative, half of which relied on revenue from long-term bonds. … Bottom line: don’t rush into this. Think long-term.
