BOSTON (AP) — An agreement has been reached at the Statehouse on how much tax revenue Massachusetts should expect in the next fiscal year.
Top lawmakers and state Secretary of Administration and Finance Kristen Lepore announced a consensus revenue forecast of about $27 billion, a 3.9 percent increase over expected revenues in the current fiscal year that ends June 30.
The forecast forms the basis for state budget negotiations that will begin in earnest later this month when Republican Gov. Charlie Baker files his Fiscal 2018 spending plan.
Lepore says the forecast calls for modest growth in tax collections, while Democratic Senate Ways and Means chairwoman Karen Spilka says it reflects “cautious optimism” about the state economy.
The nonpartisan Massachusetts Taxpayers Foundation has called for a lower revenue growth estimate of 2.65 percent.
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