In The News: Budget

View more in Budget

House uses FY19 surplus to shore up reserves and pad ed spending

in

Oct 17 2019

By Colin A. Young and Chris Lisinski, State House News Service / MassLive

Wednesday's session did not unfold without tension. Rep. Maria Robinson filed an amendment that would have stripped a section of the bill that decouples Massachusetts from the federal tax code, citing a Massachusetts Taxpayers Foundation analysis that the change could cause the state to forego up to $37 million in fiscal year 2020 revenue by allowing corporations to continue deducting interest.
Full article
Forward to a friend

Businesses increasingly worry about an economic contraction in 2020

in

Oct 8 2019

By Jon Chesto, The Boston Globe

Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation, says it’s not really surprising that employers are worrying more about the end to a decade-plus of economic expansion. But there are mixed signals, still: She points to the latest jobs numbers from the Bureau of Labor Statistics that show the country’s unemployment rate fell to its lowest point in 50 years.
Full article
Forward to a friend

Late budget isn't a ‘governance weakness’

in

Jul 10 2019

By Heath Fahle, CommonWealth Magazine

There should be no doubt that late budgets cause problems, though not the problems cited by Moody’s. For example, Moody’s worried that local governments would not receive monthly payments. The Commonwealth’s interim budget legislation is brief (less than 250 words), but it authorizes local aid payments explicitly. The state’s debt payments, another potential concern, are already fast-tracked by the state constitution and have little risk of going unpaid.
Full article
Forward to a friend

Keller @ Large: What Encore Boston Harbor Opening Means For Tax Revenue

in

Jun 23 2019

By Jon Keller, WBZ

BOSTON (CBS) – Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, joined WBZ-TV political analyst Jon Keller this week on Keller @ Large to discuss the state of tax issues in the state.

Full article
Forward to a friend

Will state’s bet on Encore casino pay off? We’re about to find out

in

Jun 22 2019

By Joshua Miller, The Boston Globe

Casino revenue is “not a panacea,” said Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, a fiscal watchdog group. “Nor will it solve the Commonwealth’s long-term fiscal challenges by any stretch,” though it could help fund new or supplement existing services.

Full article
Forward to a friend

April tax haul could fatten state savings account

in

May 6 2019

By Matt Murphy, State House News Service / The Taunton Daily Gazette

Taxpayers Foundation President Eileen McAnneny said legislators should not spend the possible surplus on operating budget expenses, but rather save it toward the next “milestone” of $3 billion in reserves, or use it to pay down debt and pension liabilities and invest in one-time priorities like fixing the state’s transportation system or preparing for climate change.
Full article
Forward to a friend

Jobs, local aid set to flow from Everett casino

in

May 1 2019

By Colin Young, State House News Service / The Salem News

In a report published Wednesday, the Massachusetts Taxpayers Foundation said the state is "essentially on pace" to collect its anticipated $138 million in gaming revenue this fiscal year and can expect to collect $294 million in fiscal year 2020, which will begin about a week after Encore Boston Harbor's anticipated opening date. More than a third of that revenue — $107 million in fiscal 2020 — will go to cities and towns as local aid. Gaming revenue will account for nine percent of all unrestricted local aid, MTF said.
Full article
Forward to a friend

Editorial: House budget holds the line, but for how long?

in

Apr 20 2019

The Boston Globe

But as the Taxpayers Foundation points out, there are also some trip wires out there — items perpetually underfunded. When Administration and Finance Secretary Mike Heffernan announced the governor was putting in $100 million for snow and ice removal, his staff cheered — because, of course, that account is always underfunded. In keeping with that dysfunctional tradition, the House cut it back to $50 million.
Full article
Forward to a friend

Lawmakers seek $10M to avoid UMass tuition increase

in

Apr 18 2019

By Katie Lannan, State House News Service / The Daily News

According to the Massachusetts Taxpayers Foundation, the Ways and Means budget bumps higher education funding $55 million above this year's spending levels, with $40 million in additional support for UMass and $12 million for state universities and community colleges, "primarily associated with collectively bargained increases in wages and salaries."
Full article
Forward to a friend

On budget planning, be cautious

in

Apr 10 2019

By Eileen McAnneny, CommonWealth Magazine

THE MASSACHUSETTS LEGISLATURE’S House Ways and Means Committee will unveil on Wednesday its budget proposal for state fiscal year 2020, which begins on July 1. Their budget document will describe proposals to allocate more than $46 billion in spending for such things as health care benefits for nearly 2 million Massachusetts residents, the opioid epidemic, snow removal from highways next winter, and a vast array of other programs and projects throughout the state. Before deliberations begin, I offer three reasons to err on the side of caution when it comes to spending.
Full article
Forward to a friend
See our site policy on external link content.