Wednesday, March 4, 2009

Treasurer Cahill Addresses Government Affairs Forum

This morning, Massachusetts State Treasurer Timothy Cahill addressed the Chamber’s Government Affairs Forum. In his address, Cahill outlined his proposal to introduce Video Lottery Terminals, or slot machines, to the state of Massachusetts as a new source of revenue. His plan would license three locations geographically around the state and provide each location with approximately 2,500 to 3,000 machines. Depending on the exact number of machines issued, Cahill estimates that this proposal could generate gross annual revenue of between $752 million and $903 million dollars. One third of the revenue would go to replenishing the state’s reserve account, a third would go to creating a public higher education endowment for the University of Massachusetts, and a final third would be used to boost state retiree health care. Given the difficult external environment, Treasurer Cahill emphasized the importance of considering new revenue streams.

Images from the event can be viewed here.

Today’s event was widely covered by the Boston Globe, Boston Herald, WBUR, South Coast Today, and Forbes.

Treasurer Cahill’s address will be broadcast on WBUR 90.9 at 8:00pm this Sunday, March 8.

Don’t miss the Chamber’s next Government Affairs Forum with Speaker of the House Robert DeLeo on March 31. For event details and registration, click here.

The Chamber would like to thank Bank of America for sponsoring this forum.

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