Massachusetts Gov. Deval Patrick on Friday signed a $34 billion budget for fiscal 2014, after vetoing $417 million of spending, including $240 million in a separate transportation bill that still awaits action in the legislature.

Patrick sent the transportation bill, which includes roughly $500 million in new taxes necessary to balance the budget, back to lawmakers last week, seeking provisions to cover lost revenue if state officials remove tolls from the western end of the Massachusetts Turnpike.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.