The House Ways and Means Budget for FY 2013
Last Wednesday, the House Committee on Ways and Means (HWM) released its budget proposal for Fiscal Year 2013.
Our Budget Monitor shows how the HWM budget affects each major area of state government, from health care and education to public safety and the environment--including information on tax revenues. It also compares the HWM budget with the Governor's across these same areas.
Facing a budget gap of roughly $1.3 billion, the House Ways and Means Committee proposes a combination of one-time revenues and spending reductions, including:
Cuts and savings of nearly $600 million, half of it from MassHealth
Temporary revenues worth $685 million--$400 million of which is drawn from the "rainy day" fund.