In The News

Will ‘millionaires’ tax?’ appear on 2018 ballot? We’ll find out Wednesday

Jun 13 2017

By Michael Levenson, The Boston Globe

“This proposal, unfortunately, combines questionable benefits with an extraordinary level of risk,” the Massachusetts Taxpayers Foundation wrote in a withering analysis of the proposal released Monday.
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Mass. bond rating drops

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Jun 13 2017

By Christian Wade, Newburyport News

The Democrat-controlled Legislature has siphoned more than $2.2 billion from the reserve fund to cover operating expenses between fiscal years 2012 and 2015, according to the Massachusetts Taxpayers Foundation, a nonpartisan watchdog.
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'Millionaire's tax' could backfire, group warns

Jun 13 2017

By Michael Norton, State House News Service / The Lowell Sun

"The millionaire's tax does not align with the state's economic interests because it taxes talent -- Massachusetts' principal competitive advantage," the analysis says. "The appeal is easy to understand -- it is projected to raise almost $2 billion per year; does not require legislators to take a vote on a tax increase; and targets a small number of wealthy taxpayers. But as the old adage suggests, if it sounds too good to be true, it probably is.
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Business-backed group says proposed tax would chase away top earners

Jun 12 2017

By Michael Levenson, The Boston Globe

But the foundation says the amendment would “tax talent – Massachusetts’ principal competitive advantage.” “The appeal is easy to understand — it is projected to raise almost $2 billion per year; does not require legislators to take a vote on a tax increase; and targets a small number of wealthy taxpayers,” the foundation says in its report. “But as the old adage suggests, if it sounds too good to be true, it probably is.”
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Economists say a $1b state budget cut may be needed

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Jun 7 2017

By Joshua Miller, The Boston Globe

Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation, predicted legislators will have to slice between $750 million and $1 billion from their $40.3 billion budget. That won’t all be in program cuts, she said, but it won’t be painless. “Eight years into an economic recovery, we have seen state tax revenue slow down considerably. And it looks like more than a blip,” she said. “So we have to adjust the budget accordingly, and make sure spending aligns with revenues.”
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Shortsleeve move to T board opposed

Jun 6 2017

By Bruce Mohl, CommonWealth Magazine

Andrew Bagley, vice president of the Massachusetts Taxpayers Foundation, also voiced support for Shortsleeve, saying “he’s brought stability to the organization.”
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Behind closed doors, Legislative leaders hammer out state budget

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Jun 5 2017

By Colin Young, State House News Service / The Lowell Sun

The Massachusetts Taxpayers Foundation says a "substantial downgrade to (FY18) revenue is likely, and if it occurs, will require major spending reductions" in the final budget. "The similarities between the two budgets in terms of approach to spending and revenue usually make it easier to resolve fiscal issues quickly, but once again Conferees will be faced with the task of reevaluating basic tax revenue assumptions," MTF wrote in its analysis.
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Is Massachusetts Heading For A Budget Crisis?

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May 30 2017

By Mike Deehan, WGBH

"It really is the equivalent of the state looking under the couch cushions for any revenue that it can find in various accounts where there's a balance and sweeping that money to make up the deficit," Massachusetts Taxpayers Foundation President Eileen McAnneny said, adding that fixing a budget gap at the end of the fiscal year will be hard because much of the state's money has always been spent.
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Business advocates gear up for legal fight against ‘millionaires tax’ proposal

May 26 2017

By Jon Chesto, The Boston Globe

Other influential business groups — such as the Massachusetts Taxpayers Foundation, Associated Industries of Massachusetts, and the Massachusetts Competitive Partnership — also oppose the labor-backed surcharge. Among their strategies: filing a lawsuit later this year that challenges its constitutionality.
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Senate OK’s $40.8 billion state budget

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May 26 2017

By Laura Krantz, The Boston Globe

As the budget debate neared an end Thursday night, Eileen P. McAnneny, president of the Massachusetts Taxpayers Foundation, noted how much the disappointing revenue collections influenced budget crafting. “The more important questions is what adjustments, if any, will budget writers make in conference committee to deal with the anticipated revenue shortfalls,” said McAnneny, who leads the state budget watchdog group.
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