BOSTON (AP) — Gov. Charlie Baker says a projected $300 million shortfall in state revenues poses a challenging but manageable problem for his administration.
The Republican told reporters Monday that the sluggish performance of the stock market is the primary reason why tax collections have come in below benchmark in recent months. The state’s fiscal year ends June 30.
Baker says the state continues to enjoy a “robust economy” with low unemployment.
He says his administration has been working for the past several months to manage the shortfall, noting it’s a relatively small slice of the nearly $40 billion state budget.
Democratic House Speaker Robert DeLeo, meanwhile, said lawmakers may have to take a fresh look at revenue projections as they negotiate a final version of the budget for the next fiscal year.
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