Governor Presents $45.5B Budget to For Fiscal 2021
Nearly four months past the end of the fiscal year, Gov. Charlie Baker unveiled a $45.5 billion budget for fiscal 2021 that will not change funding allocations to education and cities and towns and that will not raise taxes.
iBerkshires.Com reports Baker felt that the revised House 2 budget should be able to make its way through the Legislature with some alacrity.
The state abandoned its initial budget versions as the novel coronavirus pandemic hit and it was apparent that there would be no assurances in either the spending or revenue figures it had been built on. The state has been operating on continuing appropriations, as have many municipalities that followed suit.
The budget is a 3.8 percent increase over last year and is built on an estimated $27.6 billion in revenue, down $3.8 billion from the agreed-upon number in January. It will also use about a third of the state's rainy day fund at $1.35 billion. Should revenues come in higher, the amount taken from the stabilization account will drop.