The downturn sent a jolt of uncertainty through Beacon Hill just as Senate leaders are putting the finishing touches on their budget proposal. It was a big one month shortfall, but we’re still on track for the year,” Evan Horowitz, executive director of the Center for State Policy Analysis at Tufts University, told Playbook.īut, he added, “I do think that seeing the revenue coming this far below expectations is going to shift the discussion around the tax packages and probably reduce the appetite for a billion-plus-dollar package.” “This is not a calamitous collapse in tax revenue. They’re also standing by her tax-relief package. Maura Healey’s budget officials, for instance, “remain confident” in the state’s ability to balance the books this fiscal year without emergency spending cuts. Lawmakers and budget analysts who had been steeling for a slowdown were quick to issue reassuring statements. With just two months left in the fiscal year, collections are now running behind forecast. WARNING $IGNS - Another year, another revenue surprise that could change the trajectory of tax-relief talks.īut instead of swimming in surplus, lawmakers are staring at a shortfall.Īpril tax revenues came in nearly $2.2 billion lower than what the state collected in the same month last year and $1.4 billion below the state’s benchmark projection.
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