WEST SPRINGFIELD, Mass. (WWLP) – The state’s economy is struggling and it’s making House Speaker Robert Deleo and other lawmakers very concerned. So far this fiscal year, tax revenue is falling short of the levels needed to meet spending demands.
State tax revenues amounted to about $25 billion, an increase of $550 miillion, only 2 percent, from the same period in 2015. Total tax revenues are running $36 million below budget benchmarks.
“I’m very concerned,” House Speaker Robert DeLeo told 22News. “We are watching it very closely, looking for more ideas and economic development that we are working on that will hopefully increase the income here in Massachusetts.”
DeLeo is looking at several ways to turn the state’s economy around. He said he wants to improve the economy by growing business and providing more job opportunities rather than raising taxes. He hopes to get many more people jobs in western Masaschusetts, including in the field of manufacturing.
DeLeo also said he’s working on a “Baystate Business Link,” trying to take successful business ideas in Boston and incorporate those in Western Massachusetts.