Massachusetts small business owners have a state spending blueprint worth celebrating.
When Gov. Charlie Baker signed his first budget, which totaled $38.1 billion, it may not have been perfect but there were several highlights for small businesses, from $162 million in line-item vetoes (update: Legislature overrode $97 million) to closed deficits of $2.5 billion to no new taxes.
“This $38.1 billion budget responsibly keeps spending growth to about three percent, below the growth in tax revenue,” Baker said. “This amount is reasonably within our tax revenue projections and ensures that state government will live within its means. The budget contains no new taxes and ensures the anticipated reduction for the people of Massachusetts in the state income tax to 5.1 percent on January 1, 2016.”
The budget was a victory for Massachusetts small business owners, according to NFIB/MA State Director Bill Vernon:
— NFIB Massachusetts (@nfib_ma) July 20, 2015
— NFIB Massachusetts (@nfib_ma) July 9, 2015
For more information or to read the budget, click here.