State Bailout for SSA Deficit Becomes Law

Gov. Charlie Baker signed a supplemental FY2020 budget into law on Friday, officially shifting the burden for this year’s projected Steamship Authority deficit from the five port communities onto the state.

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Senate Amendment Was Months in the Making

As of Thursday morning last week, financial projections for the Steamship Authority included a potential tax assessment for the six Island towns upwards of $7 million. Then the picture changed.

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Senate Bill Would Relieve Port Towns From Paying SSA Deficit

The budget amendment would exempting all port towns from having to cover a Steamship Authority pandemic-related budget shortfall.

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Markey, Warren, Keating Seek Federal Aid for Steamship Authority

With the financially strapped Steamship Authority in mind, the Massachusetts Congressional delegation is requesting $3 billion in aid to keep the country’s ferry industry afloat. A letter was sent to Speaker of the House Nancy Pelosi and senate leaders Mitch McConnell and Chuck Schumer May 7.

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Governor Demurs on Steamship Authority Bailout

In his daily press briefing Monday, Gov. Charlie Baker was vague about whether the state would help rescue the financially struggling Steamship Authority.

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Staying Afloat

No Island institution has escaped the crushing effects of the coronavirus crisis, including the Steamship Authority.

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SSA Governors Wrestle With Financial Crisis

Steamship Authority governors took up a laundry list of measures to help the boat line stay afloat on Tuesday, extending the reduced ferry schedule to May 14.

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SSA Leaders Say Financial Crisis Snowballed Quickly

The decision by the Steamship Authority to seek a financial bailout from the state came together hastily in the span of a few short days.

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Steamship Authority Seeks Unprecedented State Bailout

With cash running low the SSA is urgently seeking a financial bailout from the commonwealth, marking a first.

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