Baker Unveils Plan For Closing $765M Budget Gap
BOSTON (AP) — Gov. Charlie Baker is proposing more than $500 million in spending cuts to help close a state budget shortfall for the fiscal year ending June 30.
The Republican announced the plan on Tuesday, saying it was time for state government to live within its means.
In addition to the spending cuts, Baker says his plan calls for more than $250 million in new revenues, including a tax amnesty plan and diverting proceeds from the capital gains tax that otherwise would be earmarked for the state's so-called rainy day fund.
But the governor said his deficit plan would not raise taxes or cut aid to cities and towns.
Democratic leaders in the Legislature have promised to work cooperatively with Baker to close the budget gap.
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