Displaying 61–70 of 141
Jun 16, 2020
TRANSPORTATION
The MBTA faces "existential" long-term budget challenges as the pandemic's impact on revenue exacerbates existing trends, a fiscal watchdog group warned in a new report. By fiscal year 2022, the T could have an operating budget deficit of more...
TRANSPORTATION
Jun 15, 2020
TRANSPORTATION
“Even before the pandemic hit, the MBTA’s operating costs jumped by 5.3%, a five-fold increase over previous years. Combine that steep rise in expenses with a $240 million loss in fare revenues due to the pandemic, and the T’s balanced budget has...
TRANSPORTATION
Jun 15, 2020
TRANSPORTATION
The business-backed financial watchdog said $827 million in federal aid is bailing out the T this fiscal year and next, but the transit authority is likely to face a $400 million deficit in fiscal 2022, which begins on July 1, 2021. Long-term, the...
TRANSPORTATION
Jun 04, 2020
PUBLIC FINANCE > Taxes
Budget watchdogs are warning of more pain to come. The Massachusetts Taxpayers Foundation, in a report released last week, projected it could take five years for revenues to exceed prepandemic levels, and that the state could be looking at revenue...
PUBLIC FINANCE > Taxes
Jun 03, 2020
PUBLIC FINANCE > Budget > FY 2021
As Congress bickers over the size and scope of the next federal relief package, the Massachusetts Taxpayers Foundation warned this week that the pillars of the state’s economy – health care, higher education, tourism – could be so fundamentally...
PUBLIC FINANCE > Budget > FY 2021
May 31, 2020
PUBLIC FINANCE > Budget > FY 2021
Hopes for an expedited economic rebound from the COVID-19 shutdown simply isn’t realistic, according to the Massachusetts Taxpayers Foundation, which predicts a prolonged recovery period that will strain state resources, which may not fully recover...
PUBLIC FINANCE > Budget > FY 2021
May 30, 2020
PUBLIC FINANCE > Budget > FY 2021
“If you’re selling that many fewer meals, it means you may have less profit, you pay less taxes, and so it goes,” Eileen McAnneny, president of the Massachusetts Taxpayers Foundation said. Back in April, the foundation forecasted a V-shaped...
PUBLIC FINANCE > Budget > FY 2021
May 29, 2020
PUBLIC FINANCE > Budget > FY 2021
According to one watchdog, the state budget won’t weather it well. The Massachusetts Taxpayers Foundation projected in a report released Thursday that it could take five years for state revenues to exceed prepandemic levels. Even that scenario...
PUBLIC FINANCE > Budget > FY 2021
May 29, 2020
PUBLIC FINANCE > Municipal
The Massachusetts Taxpayers Foundation has projected the state will not be able to collect close to $6 billion in revenue. “This is going to have a dramatic impact on local revenues,” said Fitzgerald. “Soaring unemployment and the expectation...
PUBLIC FINANCE > Municipal
May 29, 2020
PUBLIC FINANCE > Budget > FY 2021
The hopes for a sharp and immediate rebound from the COVID-19 shutdown in Massachusetts are no longer realistic, according to the Massachusetts Taxpayers Foundation, which is now predicting a long and slow climb that will strain state resources....
PUBLIC FINANCE > Budget > FY 2021