House panel to weigh in on state’s $40B budget
Lawmakers on Beacon Hill are facing some key financial decisions as they prepare to roll out the latest version of the state’s more than $40 billion budget.
The House Ways and Means Committee on Monday will release its spending plan for the fiscal year that starts July 1.
Despite a strong Massachusetts economy and low unemployment, the state’s fiscal outlook remains cloudy. Tax collections through the first nine months of the current fiscal year are running about $220 million below official projections.
The state has also been struggling to keep up with surging Medicaid costs. One decision the House must make is whether to accept Republican Gov. Charlie Baker’s proposal for a new assessment on companies with more than 10 employees that do not offer health insurance to their workers.