Correction on tax cap giveback story
CommonWealth published a story Thursday evening incorrectly suggesting the tax cap giveback was not going to be as big as the Baker administration forecasted last week.
The story was based on new revenue numbers released Thursday by the Department of Revenue. Those numbers for total tax revenue in fiscal year 2022 were lower than what the Baker administration had forecast last week in its tax cap giveback calculation, but it turns out the Revenue Department numbers do not include certain tax revenues, including taxes on gaming and deeds excise stamps. Adding those taxes to the Revenue Department numbers brings them in line with those used by the Baker administration in calculating the tax cap giveback of roughly $2.9 billion.
CommonWealth apologizes for the error.