MA Budget: Officials predict modest fiscal growth 1/13/10 -- Massachusetts Correction Officers Forum For Political Discussion

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Subject: MA Budget: Officials predict modest fiscal growth 1/13/10

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MA Budget: Officials predict modest fiscal growth 1/13/10

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Date Posted: 16:59:33 01/13/10 Wed

MA Budget: Officials predict modest fiscal growth
1/13/10

Massachusetts' fiscal health is improving, but top officials say the state still faces a $3 billion gap in its budget for the fiscal year that begins in July.

The budget chiefs in the administration, House and Senate released a statement Wednesday predicting a modest 3.2 percent growth in tax revenues compared with the original estimate for the current fiscal year. That estimate had to be revised down as actual revenues failed to keep pace.

Even with the new estimate that pegs revenues for the new fiscal year at just over $19 billion, officials say the state is still looking at more budget cuts as federal stimulus funds dry up and costs, including those related to health care, continue to rise. Gov. Deval Patrick said he's anticipating no new taxes in the budget.

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