BOSTON (AP) — Massachusetts tax collections held steady in January, nearly hitting projections for the month.
The $2.7 billion in revenue for the month was just $1 million or .05 percent below the monthly benchmark.
For the fiscal year that ends June 30, collections were $14.6 billion as of the end of January. That’s $33 million below the benchmark for the year so far.
Legislative leaders on Beacon Hill have said they would review the January tax collection report before deciding whether to restore some of the nearly $100 million cut from the state’s budget by Republican Gov. Charlie Baker.
Democrats were critical of the cuts, which Baker said were necessary because of lagging revenues and unforeseen budgetary expenses.
January is generally the third largest tax collection month.
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