‘Extreme Caution’ Urged as State Begins Budget Planning

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BOSTON (AP) — Massachusetts budget writers are being told to expect a continuation of sluggish tax revenue growth due to uncertainty over the policies of the incoming Donald Trump administration and other global economic factors.

Members of the House and Senate Ways and Means Committees heard Monday from top state officials and outside experts as they took the first step toward assembling a budget for the next fiscal year.

The independent Massachusetts Taxpayers Foundation forecast revenue growth of less than 3 percent and urged “extreme caution” in putting together the next spending plan.

State Revenue Commissioner Michael Heffernan noted the Massachusetts economy has outperformed the U.S. as a whole and the state’s unemployment rate is at a 15-year low. But he added that the level of economic and political uncertainty remains high.

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