... Gov. Baker to speak at Mintz Levin pharmaceutical summit on May 8 ...... Student loan collection bill on Senate's agenda for Thursday ...... Senate supplemental budget (S 2481) likely to receive approval on Thursday ...... Judiciary Committee has until May 2 to vote on sexual harassment, drugged driving bills ...... Baker returns Garden of Peace proposal with amendment, cites constitutional concerns ...... Solomon McCown hosting May 1 panel on "Enlightened Leadership During This Cultural Reckoning" ...... Poll: nearly two thirds of U.S. adult citizens will stay away from polls for mid-term elections ...... Sabadosa to kick off campaign for House seat Sunday in Northampton ...... Scaccia: tax credits to "richest people" in film industry are denying state Treasury $818 million ...... Daily Show's Trevor Noah to perform at UMass Lowell on Oct. 5 ...... Baker, Walsh chairing Asian American Civic Association gala in Boston June 22 ...... Baker asks feds for longer lookback at driving records of commuter rail operators ...... AG Healey to address Greater Boston Chamber breakfast on Thursday morning ...... Eric Donovan of Dorchester is Baker's pick for clerk magistrate in Brighton court ...... Former Sen. Barrios pays $19,500 to General Fund to resolve campaign $$$ problems ...... Rep. Calter is latest to leave Legislature, will take town administrator's job in Kingston ...
Latest Headlines:
House:
Senate:
ADJOURNED 'til Thursday at 11 a.m. (formal)

TAX REVENUE ACCORD SETS STAGE FOR NEW STATE SPENDING PLANS

By Colin A. Young
STATE HOUSE NEWS SERVICE

STATE HOUSE, BOSTON, JAN. 12, 2018....State tax revenues will grow at a 3.5 percent clip next fiscal year, state budget managers agreed on Friday, signaling that the governor and Legislature will have almost $27.6 billion available to spend, along with billions of dollars in federal and non-tax revenues, as they begin to shape the fiscal 2019 state budget.

Gov. Charlie Baker's budget chief and the chairs of the House and Senate Ways and Means Committees on Friday detailed a finalized accord on how much tax revenue the state expects to collect in fiscal year 2019, which begins on July 1. Budget watchers also upgraded their expectations for tax revenue in the current fiscal year, upping the projected total revenue by $157 million, to $26.661 billion.

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.


Get the Rest of the Story!

Request a Free 21-day Trial:

Please fill in all requested information.



ZIP code or phone number is not valid.

() ext.

Please enter a valid e-mail address.

'E-mail' and 'Confirm E-mail' must match.



 
 
State House News Service