Gov. Maura Healey mentioned Thursday she doesn’t plan to supply up a tax or payment improve in Massachusetts to account for thousands and thousands in proposed new spending subsequent fiscal 12 months whilst state revenues face a $1 billion slowdown.
Healey plans to file her fiscal 2025 state finances proposal subsequent week, which is able to direct state {dollars} to psychological well being and training initiatives in addition to “double the operational funding support” for the MBTA, although it was not precisely clear what the governor had in thoughts.
After House Speaker Ron Mariano and Senate President Karen Spilka shortly batted down the concept of elevating taxes Wednesday night time, Healey supplied a easy “no” on Thursday when requested if she was contemplating the concept.
Healey mentioned Massachusetts remains to be seeing income progress year-over-year.
“It’s growing at a slower rate. I promised last night (to) the people that I’m only going to file a budget that is fiscally responsible. That’s what you’re gonna see next week. It’s balanced and makes strategic investments,” Healey informed reporters within the halls of the State House.
Healey reversed courtroom final week when she reduce $375 million from the fiscal 12 months 2024 finances and scraped collectively $625 million in non-tax revenues to plug an anticipated $1 billion finances hole this fiscal 12 months. She mentioned in December that she was not contemplating finances cuts.
But cash points weren’t top-of-mind Wednesday night time as Healey made clear in her fist State of the Commonwealth tackle that she was trying to spend extra money in her fiscal 2025 state finances.
Healey mentioned she plans to suggest “record levels” of cash for native roads and bridges, a five-year literacy program for college districts, $10 million for youth psychological well being, a no-cost HVAC coaching program, and probably thousands and thousands extra for the MBTA.
Healey pointed to earnings from a 4% surtax on incomes over $1 million that’s put aside for training and transportation.
“We’re gonna make the very best use of that money,” she mentioned.
Mariano mentioned the Legislature and Healey simply lowered taxes via a $1 billion-a-year tax reduce package deal signed into regulation final 12 months.
“We just lowered taxes. We’re not schizophrenic,” he mentioned.
Spilka mentioned elevating taxes “is not something that I believe we are looking at.”
“I believe that we will take a look and closely monitor our revenue for the coming months, for the coming year,” Spilka mentioned.
Source: www.bostonherald.com”