BOSTON (AP) -- State officials and legislators will be keeping a close eye on the latest report due out in the coming week on Massachusetts tax revenues.
The news so far has been disappointing in the fiscal year that started July 1. Tax collections have missed the state’s benchmarks in all four months and are currently running $256 million below projections.
If the November report fails to show improvement, it could prompt Gov. Deval Patrick to consider spending cuts. His administration has already ordered tighter controls on spending and hiring.
A mid-month report from the revenue department showed November tax collections running 6.3 percent above the same period a year ago. The state’s benchmark for the month is just below $1.4 billion. That would be a 2.5 percent increase over November 2011 collections.