State tax collections were flat over the first month of the fiscal year after Gov. Maura Healey on July 4 signed a $60.9 billion fiscal 2026 budget that raises spending by more than 5%.

The Department of Revenue reported that the state collected nearly $2.7 billion in taxes during July, an increase of $7 million or 0.3% compared to July 2024.

Revenue Commissioner Geoffrey Snyder said that increases in withholding, non-withheld income estimated payments and “other” taxes were partially offset by decreases in sales and use, corporate and business taxes.

“The decrease in sales and use tax is due to normal periodic fluctuations in collections. The decrease in corporate and business tax is due to a decrease in estimated tax as well as an unfavorable increase in refunds,”  Snyder said in a statement.

Trump hikes India tariffs to 50%

President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.

China also buys oil from Russia, but it was not included in the order signed by Trump.

The Indian government called the additional tariffs “unfortunate.”

“We reiterate that these actions are unfair, unjustified and unreasonable,” Foreign Ministry spokesman Randhir Jaiswal said in a statement, adding that India would take all actions necessary to protect its interests.