New state fiscal year approaches without budget deal

BOSTON (AP) — The state’s fiscal year is ending without an agreement in place on a budget for the next one.

The House and Senate have approved separate versions of an approximately $40.3 billion budget, but a six-member conference committee has yet to resolve differences between the two plans.

The new fiscal year begins on Saturday. Republican Gov. Charlie Baker filed a $5.2 billion stopgap budget to keep state government operating for several weeks, if necessary.

Complicating the situation is a shortfall in state tax revenue that has thrown into doubt the original assumptions on which the budget is based.

Analysts say lagging tax collections could create a gap as large as $1 billion between spending and revenue.

Little is known about ongoing negotiations, as the conference committee meets behind closed doors.

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