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Spending Cuts, New Outlook Reshape Budget Landscape. Gov. Maura Healey and her budget team hit the reset button Monday, announcing a plan to cut $375 million from the current year's budget amid flagging tax collections, to downgrade the amount of tax revenue expected this budget year by $1 billion, and to build the next state spending plan on.

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Massachusetts Gov. Maura Healey and her budget team hit the reset button Monday, announcing a plan to cut $375 million from the current year's budget amid flagging tax collections, to downgrade the amount of tax revenue expected this budget year by $1 billion, and to build the next state spending plan on the assumption that even less tax revenue will come in next year.

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COMMONWEALTH OF MASSACHUSETTS STATE HOUSE BOSTON, MA 02133 (617) 725-4000. Alongside our fiscal year 2024 budget, we are filing a package of tax cuts and reforms that will put money back into the pockets of families, renters, seniors, farmers, and commuters. It will create a new

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The cuts set to be announced by Healey are known as "9C cuts." The last time such cuts were made in Massachusetts was by former Gov. Charlie Baker in 2016, per Politico.

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MTF's Analysis of Governor's 9C Cuts. Today, the Baker Administration announced $97.9 million in midyear budget (9C) cuts.1 These cuts come during a particularly challenging budget year in which revenues have been reduced by $800 million already. This brief provides background on the FY 2017 budget gap and summarizes the budget cuts.

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After six months of state tax collections falling short of benchmarks, the Healey-Driscoll administration today announced $375 million in mid-year emergency budget cuts for fiscal 2024. The reductions do not directly impact core municipal and school aid accounts, but some reduced budget earmarks will have impacts at the local level.

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Section 9C of Chapter 29 of the Massachusetts General Laws requires that when projected revenue is less than projected spending, the Governor must act to ensure that the budget is brought into balance. The state's constitution requires a balanced budget. When the Legislature passes the budget at the beginning of the fiscal year, it must.

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Earlier this week, the Healey administration announced a $1 billion tax revenue shortfall for FY 2024, downgrading the revenue benchmark from $40.41 billion to $39.41 billion. They also released a plan to solve the shortfall which includes approximately $375 million in net mid-year (9C) budget cuts. In total, 66 budget line-items were reduced by $545 million in gross spending.

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Former Gov. Charlie Baker oversaw the last round of 9C cuts in December 2016. Lawmakers worked with Healey and with Baker to drive up state spending significantly in recent years, prompting business leaders recently to recommend the state pump the brakes.

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The last 9C cuts were made by then-Gov. Charlie Baker in 2016.. Top Massachusetts Democrats who have passed through Harvard's hallowed halls were silent in the immediate aftermath of Gay's.

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MTA statement on 9C cuts and tax cuts. January 9, 2024. Massachusetts Teachers Association President Max Page and Vice President Deb McCarthy issued the following statement about the spending cuts announced today. "Today, we are seeing the fall out: cuts in funding similar in size to the tax cuts given to the very wealthy - for education.

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The Governor has the authority to make such cuts under Section 9C of the Massachusetts constitution. When projections fall short of revenue, the Governor can make emergency cuts to balance the budget. As of December 2023, the revenues were $769 million less than the year-to-date benchmark. The Governor is targeting cuts that will total around.

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Massachusetts Governor Maura Healey and her budget team hit the reset button Monday, announcing emergency budget cuts following six straight months of lower-than-projected revenues.. 25 Investigative Reporter Kerry Kavanaugh first broke this story Sunday night.. The state is facing a nearly $1 billion revenue shortfall. As of December 2023, the revenues were $769 million less than the year-to.

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Gov. Maura Healey is set to sign a bill to enact Massachusetts' first tax cuts in over two decades. Here's a look at what state lawmakers are hoping to tackle next, from child care to prescription.

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The Governor has the authority (under Section 9C of Chapter 29 of the Massachusetts General Laws) to make spending reductions when there is a budget shortfall and there is no (supplemental) money to fund that shortfall. Learn more about Section 9C authority. Governor's FY24 9C filing letter . FY24 Adjusted Blueprint. FY24 9C Line Item Listing