Massachusetts Budget and Policy Center has laid out a clear explanation of the challenges confronting the Commonwealth:
Budget Monitor: The Governor’s Revised 2010 Budget and the House-Senate Conference Differences
June 11, 2009
The severe national recession has made the Fiscal Year 2010 budget process unusually challenging, both substantively and procedurally. Because the current baseline tax revenue estimate for FY 2010 is $3.4 billion below the tax revenue estimate on which the FY 2009 budget was built, the state faces extraordinary fiscal pressures.
Absent tax or spending changes, the cost of maintaining current services in FY 2010 would be approximately $5 billion more than the recurring revenue that will be available to finance the state budget. This $5 billion budget gap is forcing major spending cuts, tax and fee increases, and the use of federal stimulus aid provided in the American Recovery and Reinvestment Act (ARRA). MORE
1 comment:
I read everything and anything about the state budget, where the money goes, where the revenue comes from.At your urging,we went to a few of the Governer's meetings and learned alot.Some of the people who atended knew way more than we do and made sugestions about where money could be saved and suport the tax increases.We have alot of work to do to educate people about whats going on.My husband and I read what you write and consider that you provide alot of information and resources to help us understand the issues and where to find the information.You stick to the facts and the studies.On another local place all they do is blab about unfounded stuff like regulations that stop business or high taxes that is not true.Some of the places like bluemassgroup dont give us the basics to make any sense and you fill that gap.Thanks for what you do and we hope you will keep it up.
Post a Comment