Displaying 1–10 of 406
Oct 14, 2020
PUBLIC FINANCE > Budget > FY 2021
Following months of economic uncertainty and temporary budgets to keep the state operating, Administration and Finance (ANF) provided the Legislature with its revenue and spending proposals for their review and consideration.  Notably, the...
PUBLIC FINANCE > Budget > FY 2021
Oct 13, 2020
PUBLIC FINANCE > Budget > FY 2021
I. Business Cost Increases 2. Pandemic Related Impacts 3. Economic Outlook 4. Past Recessions playbook 5. Principles to guide discussion 6. Scenario Planning
PUBLIC FINANCE > Budget > FY 2021
Oct 07, 2020
PUBLIC FINANCE > Budget > FY 2021
Secretary Heffernan, Chairman Rodrigues, Chairman Michlewitz, members of the Ways and Means Committee and members of the general public, good morning. I am Eileen McAnneny, President of the Massachusetts Taxpayers Foundation and I appreciate the...
PUBLIC FINANCE > Budget > FY 2021
Oct 07, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF’s President Eileen McAnneny said, “while our revised tax revenue forecast has improved since  MTF’s April projection, the improvement is due largely to unprecedented levels of federal financial assistance.  Numerous headwinds could slow...
PUBLIC FINANCE > Budget > FY 2021
Sep 15, 2020
TRANSPORTATION
This report, which examines the MBTA’s sources and planned uses of capital funding, finds “an impending chasm” between the costs to maintain and modernize the Authority’s existing infrastructure and available sources to pay for these investments. At...
TRANSPORTATION
Aug 27, 2020
PUBLIC FINANCE > Taxes > Income Tax
The intent of the emergency regulation, this proposed regulation and the related Technical Information Release is to maintain the tax treatment of income received by employees who previously worked in Massachusetts, but due to pandemic-caused...
PUBLIC FINANCE > Taxes > Income Tax
Jun 30, 2020
PUBLIC FINANCE > Budget > FY 2021
On Friday, June 19, Governor Baker filed H. 4806 a one month, $5.25 billion spending authorization to keep the government operational through July 31 that the legislature has since enacted. In this interim budget, the guidance indicates that for each...
PUBLIC FINANCE > Budget > FY 2021
Jun 15, 2020
TRANSPORTATION
Driven by operating costs that were already growing and the pandemic’s deep impacts on revenues, a Massachusetts Bay Transit Authority (hereinafter the MBTA or the T) operating budget that was in balance in FY 19 is now moving backward toward a...
TRANSPORTATION
May 28, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF recently downgraded its FY 2021 tax revenue forecast to a loss of $6 billion, representing a nearly 20 percent decline from the $31.15 billion consensus benchmark. At 20 percent, the revised forecast places Massachusetts towards the...
PUBLIC FINANCE > Budget > FY 2021
May 15, 2020
PUBLIC FINANCE > Budget > FY 2021
FY 2021 tax revenues are projected to fall by $6 billion or 19.3 percent from the January 2020 benchmark. Massive layoffs push the unemployment rate to nearly 22 percent in Q4 FY 2020, causing withholding taxes to decline by $1.9 billion. Shutting...
PUBLIC FINANCE > Budget > FY 2021