Home About Archives RSS Feed

Treasurer Candidate Heffernan Calls For More Efficient Money Management

By Andy McKeeveriBerkshires Staff
Mike Case and Mike Heffernan pose for a photo in the local Republican campaign headquarters in Pittsfield.
PITTSFIELD, Mass. — With Massachusetts being a "wealthy state" Mike Heffernan says there is no reason homelessness should be increasing.
Heffernan has spent 30 years in the financial industry and when he looks over the state's financials, he believes they could be a lot better. The state may be growing its tax revenue but that isn't translating into job creation, he said.
As the Republican candidate for the treasurer's seat, he hopes to change that. By managing the state's finances better, Heffernan says more money could go toward local aid to help towns reduce the cost of living and property taxes. He looks at the number of homeless families as a "litmus test" showing that the money isn't working the way it should be.
"I started looking at the state numbers and I realized we are on an unsustainable path of higher taxes, higher fees," Heffernan said. "I had to get involved. I'm pretty moderate in most things; I just believe government can be more efficient and shouldn't be crowding out the private sector."
The state has placed an emphasis on education and is leading the country in success. Heffernan says the government needs to bring the private sector into the fold to help on the job creation end. He's calling for state regulations on businesses to be cut by a third. 
"We're 45th in job creation and we're 1st in education," he said.
He says the office is the second most important in the state and he wants to use it to help bring issues Democrats haven't been talking about to the forefront. Having another viewpoint can help drive focus on issues that otherwise wouldn't be talked about, he said.
"It is hard and soft power. The treasurer is a constitutional officer and the hard power is being able to appoint people to the boards that oversee the [Alcohol Beverages Control Commission], the Lottery and the pension system. And making the ultimate decision of if we should issue debt or not. The soft power is going early on, the day after I am elected, I'd go to the leaders and say how can we solve the common goals," Heffernan said.
For example, the state's pension system is first on his mind. The system vastly underfunded, he said, and has been constantly ranked as one of the worst in the country. Some of those revenues need to be put toward offsetting those obligations, he said.
"We are a very wealthy state. Tax receipts are up more than $6 billion over the past five years and that money should be going to our obligations. Our pension obligations are like a very expensive credit card. It is 8 percent debt. What they've done is not funded the pension system as much as they could for less effective programs," Heffernan said. 
The Southborough businessman spent most of his career with Citigroup, rising to oversee the company's seven U.S. regional distribution offices. In 2010, he moved on to founding Mobiquity Inc., an information technology company. 
While at Citigroup, Heffernan couldn't be politically active because of the ethical issues that could arise. Now that he is on his own, he wants to give back since his career work has been similar to that of a treasurer.
"Massachusetts is a very expensive place to live but it doesn't have to be," Heffernan said.
He said he'll put more of the state's funds into the community banking partnership program, which loans the state's reserves to community banks to provide a portfolio for loans to smaller businesses. And he'll lower the barriers for banks to participate.
"There are 60 communities that have much higher unemployment and 12 communities that dabble in double digits. We can target those markets," Heffernan said.
The treasurer sits on the Massachusetts School Building Authority board and he sees that as a way to advocate for more money for schools. His career has been focused on getting financing for businesses; the MSBA, he says, is financing towns and districts.
When it comes to local aid, Heffernan said the largest source comes from the Lottery system. "Every dollar we can get out of the overhead is a dollar we can give back to towns," he said.
Heffernan launched his campaign in January but did not have a primary race. Now he's ramping up to reach as many voters as possible. He will be on the ballot against Democrat Deborah Goldberg and Green-Rainbow Party candidate Ian Jackson.

Support Local News

We show up at hurricanes, budget meetings, high school games, accidents, fires and community events. We show up at celebrations and tragedies and everything in between. We show up so our readers can learn about pivotal events that affect their communities and their lives.

How important is local news to you? You can support independent, unbiased journalism and help iBerkshires grow for as a little as the cost of a cup of coffee a week.

News Headlines
New Park Street Store Offers Variety of Gifts, Clothes, Home Decor
State Auditor Bump Calls for Change in PILOT Program
Pittsfield Little League 10-Year-Olds Reach State Title Game
North End Edges North Berkshire Squad at La Festa Baseball Exchange
Devoti Leads Liberty to Win in Dalton Tourney Opener
ACS Swat 16U Squad Falls to Guilderland, N.Y.
Pittsfield Babe Ruth Squads Go 2-1 at New England Regionals
Barry Leads Pittsfield Americans to 12-Year-Old Sectional Title
Cheshire to Obtain Review of Financial Procedures
Adams to Host an Event-Filled Summer

Where to vote in Berkshire County

State Election
Tuesday, Nov. 4

Voting is from 7 a.m. to 8 p.m.
Deadline to register or change party affiliation was Oct.15.

Candidates on the ballot in races for state office; all others on the ballot are unopposed. Links will take you to their campaign websites.

U.S. Senator
Edward J. Markey, Democrat
Brian J. Herr, Republican

Governor/Lieutenant Governor
Charlie Baker & Karyn Polito, Republican
Martha Coakley & Stephen Kerrigan, Democrat
Evan Falchuk & Angus Jennings, United Independent Party
Scott Lively & Shelly Saunders, Independent
Jeff McCormick & Tracy Post, Independent 

Attorney General
Maura Healey, Democratic
John B. Miller, Republican

Secretary of State
William Francis Galvin, Democratic
David D'Arcangelo, Republican
Daniel L. Factor, Green-Rainbow

Deborah B. Goldberg, Democratic
Michael James Heffernan, Republican
Ian T. Jackson, Green-Rainbow

Suzanne M. Bump, Democratic
Patricia S. Saint Aubin, Republican
MK Merelice, Green-Rainbow

Municipal Elections

The cities of Pittsfield and North Adams will hold municipal elections for mayor, city council and school committee in 2015

You may vote absentee: if you will be absent from your town or city on election day, have a physical disability that prevents you from voting at the polls or cannot vote at the polls because to religious beliefs.

2010 Special Senate Election Results

Election 2009 Stories

Election Day 2008




1st Berkshire (42)
2010 (0)
2011 (78)
2012 (59)
2013 (63)
2014 (76)
2nd Berkshire (29)
3rd Berkshire (19)
4th Berkshire (14)
attorney general (6)
auditor (5)
campaign (72)
candidate forums (49)
city council (40)
Congress (25)
election (74)
endorsements (47)
events (30)
fundraising (10)
governor (26)
letters (9)
local (18)
mayor (54)
news (8)
school committee (21)
selectmen (22)
selectmen (16)
sheriff (28)
state (24)
statements (45)
Szczepaniak Bowler Debates City Council Pittsfield Candidates Macdonald Election 2013 Lieutenant Governor North Adams Republican Party Selectmen Berkshire Brigades Town Election Mayor Campaign U.s. Senate Town Elections Independent Cariddi Bissaillon Democrat Preliminary Letters To The Editor Governor Williamstown Boucher 1st Mass Election 2014 Mark Primary Democratic Party Bosley Special Election Debate
Popular Entries:
Bosley Looks to Wind Up Legislative Career
There's a New Sheriff in Town
Three Make Case for 2nd District Seat
Cariddi Clear Winner in 1st District
Candidates Forum Scheduled for Aug 17
Longtime City Councilor Cariddi Kicks Off State Rep Campaign
Bissaillon Campaign Hosts Pancake Breakfast
Baker Wins Governor's Race
Suzanne Bump Seeking Re-election as Auditor
Election Day 2010
Recent Entries:
Independent Falchuk Hits Threshold To Start New Party
Baker Wins Governor's Race
AG Candidate Healey Hears Concerns on Hospital
Candidate Kerrigan Stops in Pittsfield For Get Out The Vote Push
Suzanne Bump Seeking Re-election as Auditor
U.S. Senate Candidate Brian Herr Fighting for Name Recognition
Area Democrats Making Final Push For November Election
Coakley Stresses Commitment to Berkshires
Candidates Showing Differences As Governor's Race Heats Up
Gubernatorial Candidates Spar In Springfield Debate