Beacon Hill tax accord sets stage for new Mass. spending

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Jan 12 2018

By Colin Young, State House News Service / The Worcester Telegram

In a report earlier this week, the business-backed Massachusetts Taxpayers Foundation noted that tax collections are running nearly $730 million above benchmarks through December and recommended the state use above-benchmark revenues to build its rainy day, or stabilization reserve, an area that credit rating agencies have flagged as a concern. “The state budget is twice the size it was fifteen years ago, while the Stabilization Fund balance is $400 million lower,” MTF said in its report. “Without a behavior change, the next fiscal downturn will be disastrous.”
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