December 10, 2023
PUBLIC FINANCE > Budget > FY 2025

Editorial: Will spendthrift lawmakers bend to fiscal realities?

The Lowell Sun

Analysts with the Massachusetts Taxpayers Foundation believe the hiring spree in the wake of the COVID-19 pandemic will slow, as will wage and salary growth, contributing to the sluggish withholding tax revenues.

MTF and several other economic experts on Monday advised officials to reduce their forecast for tax collections this fiscal year by hundreds of millions of dollars, saying they expect the below-benchmark performance to continue.

It’s certainly a vastly different financial landscape to the one Beacon Hill had previously grown accustomed.