BOSTON (WWLP) – After a week focused on snow, Governor Charlie Baker turns his attention to fixing the state’s $765 million budget deficit. He says he plans to outline a “fix” on Tuesday.
Baker says his plan will include “a variety of revenues as well as a variety of spending reductions and other sorts of reforms.”
Governor Baker hopes to work with the House and Senate to use capital gains tax revenue to help close the budget gap. That money would otherwise go to the state’s rainy day fund.
“This is a problem we all have here and we’re looking forward to working with the governor and the lieutenant governor to find a solution,” House Speaker Robert DeLeo.
State House leader would not discuss what areas would be subject to spending cuts, but Senate President Stanley Rosenberg stressed the need to craft a solution as early as possible.
“Everyday that goes by on an annualized basis, cuts have to be deeper, so we need to get to it and get it resolved as quickly as possible,” said Rosenberg.
A Baker spokesman says the budget fix will not include new taxes or fees. Baker is set to file the proposal Tuesday.