Mass. tax revenues decline; budget trims loom
Looks for ways to curb spending; automatic cut in taxes ruled out
Facing weaker than expected state tax revenues, Governor Deval Patrick’s administration has curbed state hiring, halted an automatic income tax reduction, and begun identifying cuts in spending that may be necessary to balance the budget. Recent tax collections have disappointed expectations for the economic recovery and even failed to measure up to last year’s levels. In October, revenues were $162 million short of budgetary estimates and $48 million below the level reached in October 2011.