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New Cuts Loom, Tax Collections Down $243 Million

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Oct 2, 2009 5:27 pm US/Eastern

New Cuts Loom, Tax Collections Down $243 Million

BOSTON (WBZ) ― Tax collections in Massachusetts were down for the month of September and that will likely ignite another round of budget cuts.

Gov. Deval Patrick said Friday tax collections in September fell $243 million below projections.

Since July, when the new fiscal year started, collections for the first quarter were down $212 million.

Patrick said that means there is the possibility of more budget cuts and state employee layoffs, as well as a further reduction in state aid to cities and towns and education cuts.

He expects more details after he gets mid-month numbers and his staff spends a couple weeks to come up with a plan to close the gap.

Patrick says that while jobs are beginning to return to the state, tax collections will lag until enough of the unemployed are working and businesses start pumping taxes back into the system.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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