State budget gap pegged at $900 million in new report

in

Jan 15 2020

By Michael Norton, State House News Service / The Lowell Sun

The Massachusetts Taxpayers Foundation on Wednesday predicted the upcoming budget cycle will differ significantly from the last two, during which tax receipts shattered projections and enabled the state to bulk up its cash reserves, pass one-time investments, and push the state budget up to $43.3 billion. “The presence of such a gap provides early warning that significant changes will be considered in order to balance the budget, such as tax increases or spending cuts,” the foundation concluded. “Stakeholders and opinion leaders should prepare to consider such actions as budget deliberations begin.”
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