- December 16 2015
Tax revenues will grow by $980 million, or 3.8 percent, to $26.69 billion in fiscal 2017, slower than the 4.6 percent annual average over the past five years and below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.
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.
“In a time of heightened economic uncertainty, caution is the only course. This entails replenishing the stabilization fund and balancing the budget without the use of one-time revenues.”
- November 10 2015
Troubling state budgetary practices have left the Commonwealth’s Stabilization Fund balance insufficient to meet the next fiscal downturn and immediate action is needed to increase and safeguard the fund for future use, according to a report released today by the Massachusetts Taxpayers Foundation (MTF).