Treasurer accused of inaction on Pike

Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, said the administration's proposal does not solve the Turnpike Authority's underlying financial problems and could lead to huge losses for the state.

"There are all sorts of things happening that no one ever expected in the larger credit and financial markets," he said. "I don't know how we can guarantee the state is not going to be on the hook for this."