A Preview of the FY 2016 Budget - January 22, 2015

As the FY 2016 budget season begins, the Commonwealth continues to suffer from the effects of the three billion dollars of income tax cuts enacted over a decade ago. As a result of those tax cuts, the state has been forced to make deep cuts to important public services. Even with those budget cuts, the state continues to face budget gaps at the start of each year's budget process. This preview describes the state's fiscal condition as the budget season begins.