Massachusetts Faces $1 Billion Shortfall, Gov. Healey Slashes Budget Funding
TL;DR
The Healey Administration announced $375 million in midyear budget cuts due to a $1 billion revenue shortfall, with the bulk coming from Mass Health. The cuts, aimed at avoiding dipping into the state's rainy day fund, include reductions to over 60 programs, with Senate Minority Leader Bruce Tarr calling them "unfortunate, but necessary." The state is projecting $40.202 billion in revenue for the next fiscal year, reflecting a 2% increase from the downward-revised 2024 figures, but still cutting $208 million off the original forecast.
Topics:nationfinance#budget-cuts#economic-challenges#finance#fiscal-responsibility#massachusetts#state-revenue
- State revenue projections dropped by $1 billion, funding cut for dozens of programs Boston Herald
- Mass. Gov. cuts millions from current year's budget amid shortfall WCVB Channel 5 Boston
- Mass. emergency budget cuts: Where's the money coming from? Boston 25 News
- Healey plans spending, earmark cuts amid tax revenue shortfall The Boston Globe
- 'We cannot wait': Gov. Maura Healey slashes spending from Massachusetts budget in face of shortfall WCVB Boston
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