Thursday, January 26, 2012

New Report: A First Look at the Governor's FY 2013 Budget

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A First Look: The Governor's FY 2013 Budget
Today, the Governor released his proposal for next year's budget. Our First Look examines some of the major initiatives as well as the funding levels for important programs

Faced with a large deficit, the Governor proposes to balance the budget largely through cuts and other savings. This is on top of the $3 billion in cuts and savings which have been enacted over the last four years.

The Governor's Proposal does include modest revenue initiatives--among them a proposed increase in the cigarette tax and the end of the sales tax exemption for candy and soda. It also makes use of one-time resources, primarily from the state stabilization fund (the "rainy day fund").  

MassBudget provides independent research and analysis of state budget and tax policies--with particular attention to the effects on low- and moderate-income people.

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