- January 12 2017The Secretary for Administration and Finance and the Chairs of House and Senate Ways and Means Committees have agreed to assume $27.072 billion in tax revenue in FY 2018. This amount represents 3.9 percent growth over expected FY 2017 revenues.
- January 12 2017
Massachusetts municipalities are doing more with less from the state as they continue to tighten their belts and rely more on local receipts to keep mounting debt obligations at bay, according to the Massachusetts Taxpayers Foundation’s (MTF) 46th Municipal Finance Data booklet released today.
- January 12 2017
- December 19 2016According to Eileen McAnneny, the Foundation’s President, ”this contract agreement demonstrates what is achievable when management and labor have a candid dialogue on how to face future challenges without the shackles of the Pacheco law. Massachusetts has established itself as the hub of innovation driving economic growth; today’s agreement shows the impact this type of innovative approach can have on the public sector. Applying this approach more broadly to all government operations would have a profoundly positive impact on the delivery of services and the state’s bottom line.”
- December 6 2016
Today, the Baker Administration announced $97.9 million in midyear budget (9C) cuts.1 These cuts come during a particularly challenging budget year in which revenues have been reduced by $800 million already. This brief provides background on the FY 2017 budget gap and summarizes the budget cuts announced today
- December 5 2016
Eileen McAnneny, President of MTF, presented the Foundation’s economic and revenue forecast to members of the House and Senate Ways and Means Committees and the Secretary of Administration and Finance at their annual consensus revenue hearing at the State House today.“The Foundation advises extreme caution over the next 18 months and urges lawmakers to exercise great restraint in building the budget. There are both longstanding causes for concern, such as a shrinking workforce and insufficient reserves in our Stabilization Fund, and many new ones – such as the lack of clarity on many policy positions from President-elect Trump and ominous signs of a global economic slowdown – that necessitate a conservative approach. Given our fragile fiscal state and our unpreparedness for a recession, our expectation is that these pressures will only grow in the coming year.”
- October 27 2016Earlier in October, the Baker Administration identified an estimated midyear budget gap of $294 million. Today, Administration and Finance Secretary Lepore laid out the plan to close that gap and keep this year’s budget in balance. This brief outlines the causes of the budget shortfall and reviews the solutions.
- October 13 2016