Daily Update 8/10: Continued Commitment to Economic Recovery

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Monday, August 10, 2009

Today: Monday, August 10, 2009

• This afternoon, Governor Patrick will announce that Massachusetts has surpassed goals for the number of youth in summer employment, with well over 10,000 currently at work statewide. In March, Governor Patrick committed more than $30 million over two years in state and federal recovery funds to create thousands of summer jobs for young people between the ages of 14-24 in 60 communities across Massachusetts. Read more here.

In the Press:

• Commitment to Health Care for All - In an editorial in the New York Times, health care reform in Massachusetts is cited as a successful model for national health care reform: “The state’s experience so far suggests that it is more than possible to insure almost all citizens and stay within planned budgets — although it will take great creativity and political will to hold down rising costs so that the program is sustainable.” 

o Read the editorial here.

• Economic Recovery – In keeping with his Massachusetts plan for economic recovery, Governor Patrick announced he will organize an economic summit this fall, pushing economic recovery in Massachusetts than wait for it to happen. He plans to bring together key business, financial and state officials from important job sectors and various regions in the state. The meeting is being organized by Housing and Economic Development Secretary Greg Bialecki and Cathy Minehan, chairwoman of Governor Patrick's Council of Economic Advisors.

o Read more in the Boston Globe and WCVB. Watch more on My Fox Boston.

• Supporting Small Businesses – The Patrick-Murray administration continuingly strives to improve the Commonwealth’s health care system.  Currently, proposals are being reviewed to allow Massachusetts small businesses to band together, bargain with insurance companies for cheaper rates, and pass the savings on to employees: “Amid growing complaints from small businesses about soaring health insurance costs, the Patrick administration is eyeing a much-debated proposal that would allow companies to band together, bargain for cheaper rates, and pass the savings on to employees.”

o Read more in the Boston Globe.

• Record Year for Affordable Housing Lending – On Friday, Governor Deval Patrick announced that MassHousing had its best lending year in state history in fiscal year 2009, providing more than three-quarters of a billion dollars for affordable housing. The landmark year was due to a surge in lending to first-time homebuyers who have flocked to MassHousing’s 30-year fixed rate-mortgages with low downpayment requirements – a feature that has disappeared from the private lending market during the mortgage lending crisis. “Providing quality affordable housing for working people is a critical part of our plan to strengthen our economy and our communities,’’ said Governor Patrick. “MassHousing is helping thousands of low and moderate-income homebuyers get a toehold in the middle class.’’ Learn more here.
  

o Read more in the Boston Globe, the Boston Business Journal, and WWLP.

• Rebates to UMass Undergrads – Undergraduate students of the University of Massachusetts will be receiving $1,100 in rebates this fall as a result of federal stimulus money dedicated to the school by Governor Patrick. The rebate will reduce an increase in student fees from $1,500 to $400 for the academic year.

o Read more in the Republican, the Associated Press, and South Coast Today.