Business Concerned About Budget

Business leaders are concerned that Governor Deval Patrick's new budget unfairly squeezes their own bankrolls and will lead to unemployment and a lack of new business investment in the state.

Patrick's budget aims to generate $295 million for the state by closing what the governor calls "corporate tax loopholes."

Patrick's says these loopholes have diverted tax dollars from the state for too long.

But Massachusetts Taxpayers Association President Michael Widmer says Patrick's changes are really an overhaul of the tax code that could hurt businesses. "This will discourage job creation and exacerbate our long term problems," he says.

The full budget was released today at noon after Patrick first unveiled the highlights of the budget at a televised town hall meeting in Melrose Tuesday night.

The budget would increase funding to early childhood education, police departments, and public health departments, among other initiatives.