After two consecutive fiscal years of above-trend tax growth and manageable spending increases, an initial analysis of the state’s finances suggests policymakers will face tough choices as they begin budget development for state fiscal year 2021. A model of the fiscal 2020-2021 budget developed by the Massachusetts Taxpayers Foundation (MTF) highlights the strain of new spending commitments.
January 15, 2020
FY 2020
First Look: Tough Choices Ahead in Fiscal 2021
After two consecutive fiscal years of above-trend tax growth and manageable spending increases, an initial analysis of the state’s finances suggests policymakers will face tough choices as they begin budget development for state fiscal year 2021. A model of the fiscal 2020-2021 budget developed by the Massachusetts Taxpayers Foundation (MTF) highlights the strain of new spending commitments.
