Monday, January 15, 2018

Budget season starts soon

We'll see the FY19 Governor's budget released next week. Two things of use:
There was a consensus revenue agreement released last week:
The estimate of $27.594 billion in tax revenues for fiscal 2019 amounts to $933 million more in revenue than the updated projection for the current fiscal year. The projected growth rate will serve as the basis for Baker's budget, which is due on Jan. 24, and budget-building exercises this spring and summer in the House and Senate. The Republican governor and Democrats in the Legislature faced a Jan. 15 deadline to agree on a tax revenue estimate.
That tells us how much the state plans at base to spend, but not how.

 Also, MassBudget has released their FY19 budget preview, which is worth a read, as always.

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