August 08, 2022
PUBLIC FINANCE > Taxes > Income Tax

A hot real estate market, a labor shortage, and a state budget surplus. It’s 1986 all over again.

Shirley Leung ,

The Boston Globe

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the state balance sheet is strong enough for Beacon Hill to still carry out its economic development agenda. Year-over-year tax collections grew over 20 percent, and the state surplus is at an eye-popping $4.9 billion. There’s also $2.3 billion in federal relief funds that have yet to be appropriated.

“That does afford a lot of tax relief and other investment,” said McAnneny.