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.

(Copyright (c) 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)