Governor Proposes Half-Billion in Cuts to Deal with Low Revenues, 'Fiscal Cliff'
Patrick announced the budget adjustments Tuesday.
In anticipation of the “fiscal cliff” combined with projected tax revenues that are more than half a billion dollars lower than previously expected, Gov. Deval Patrick released a revised budget designed to deal with the gap Tuesday. “The uncertainty of the fiscal cliff and the resulting slow down in growth, is the direct cause of our budget challenges,” Patrick said. “Congress and the President must come to terms on a solution so the private sector will continue to make the kind of investments that create jobs, grow state and federal tax revenue collections and contribute to a lasting economic recovery." The state is now expecting to bring in roughly 21.5 billion in tax revenue, and Patrick's plan to bridge the gap between this amount and…
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2:58 am on Friday, November 9, 2012
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