Chamber of Commerce CEO sees "unnerving trends" in Massachusetts economy
When it comes to the Massachusetts economy, the news just keeps getting worse. In a detailed analysis of the potential impact of new federal policies on the state, Boston University finance Prof. Mark Williams notes that some of our core industries are being "disproportionately" threatened by tariff hikes, cuts in funding for education and health care, and the persecution of immigrants. His forecast if this keeps up: six-figure job losses and enormous pressure on state and local budgets.
"That is on top of some unnerving trends that are already going on," says Jim Rooney, president and CEO of the Greater Boston Chamber of Commerce, in an interview on the Sunday edition of "Keller at Large."
Job creation in the state has stalled, Rooney said, with positions in research, medicine and life sciences at risk.
"This is right in the gut of the Massachusetts economy," Rooney said.
Massachusetts has responded with multiple lawsuits attempting to block federal cuts, but Rooney is hoping "coalition building" with other states – both blue and red - and their regional chambers of commerce will help avert some of the damage.
"We've launched a national coalition on research funding, 60 chambers in over 30 states, Alabama, California, Texas, Pennsylvania, Michigan, Pennsylvania, all promoting the benefits of research funding, both from a scientific perspective, but also economic and jobs," he says. "We're going to lobby, we're going to sign on to joint letters. We're going to try to make the case of what is happening at home in your district, Mr. or Mrs. Congressperson, if you do these things."
Inadequate graduation standards in Massachusetts?
Rooney also discussed the situation with graduation standards for public high school students, with the state announcing a set of temporary standards to fill the void left by voter approval of Question Two on last November's ballot.
"We were against eliminating the MCAS test, very disappointed in the outcome of the vote," Rooney said. "We spend a lot of money on education in this state, and we need to know that our children get the education that we're paying for. And standards is one of the ways to measure - you can't even understand how you can best serve a child unless you know how well she or he is doing and progressing."
As for critics who say the temporary standards are vague and inadequate, Ronney notes "cities and towns still have the right to impose standards, and they can keep some of the MCAS if they want to, and give some sort of test at the local level. It's up to the cities and towns now."
Rooney also discussed the City of Boston's finances and the impasse between the business community and Mayor Michelle Wu over a looming shortfall in commercial property tax revenues. You can watch the entire interview in the view player above.
Keller at Large airs every Sunday at 8:30 a.m. on WBZ-TV.
