In The News: Revenue

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State revenues expected to slow

Dec 13 2011

By John J. Monaham, The Worcester Telegram

“I think we are all looking at a very limited number of new jobs created over the next year or two. I think that is the theme today, that we are in for a long haul,” said Michael Widmer of the Massachusetts Taxpayers Foundation.
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Editorial: Happy New Year indeed

Dec 13 2011

The Boston Herald

And even with sluggish job growth and a not-exactly perking along economy, state revenues for fiscal 2013 (beginning July 1, 2012), are likely to increase by around 3.9 percent, according to the Massachusetts Taxpayers Foundation
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Taxpayers in line for slight income tax cut

Dec 13 2011

AP / The Lawrence Eagle Tribune

Fiscal experts including Widmer were quick to point out that while the state's modest economic recovery is causing tax revenue to grow at a higher clip, Massachusetts is still taking in less in total taxes than it did prior to the Great Recession. The state is forecast to collect $700 million less in taxes in fiscal 2012 than it did in fiscal 2008.
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Bay State officials predict job growth will slow

Dec 13 2011

By Kyle Cheney, State House News Service / The Boston Globe

Michael Widmer, president of the Massachusetts Taxpayers Foundation, estimated that the state would add a negligible number of jobs over the next fiscal year. An uptick in income tax collections would occur, he added, largely because of anticipated increases in wages and salaries.
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Top legislator in Massachusetts says state government is facing $1 billion shortfall for next fiscal year

Dec 12 2011

By Dan Ring, The Republican

Widmer said the state's tepid tax revenue growth stems from a sluggish forecast for the national economy and weakening employment for the nation and the state. Widmer estimated the state will add only 9,000 jobs this fiscal year and will lose 5,000 jobs in the next fiscal year because of weakness in the national and global economies.
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Taxpayers Foundation predicts "tepid" state revenue growth

Dec 12 2011

By Eric Convey, Boston Business Journal

The Massachusetts Taxpayers Foundation Monday predicted "tepid" state revenue growth for the fiscal year that begins July 1. The group predicted revenue will grow by $822 million, or 3.9 percent, to $22 billion for fiscal 2012.
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Inaccuracies aside, forecasting hearing seen as essential to budgeting

Dec 11 2011

By Kyle Cheney, State House News Service / The Boston Herald

“This is a hazardous occupation. It is unpredictable,” said Michael Widmer, president of the Massachusetts Taxpayers Foundation, who has been tasked year after year with taking delivering to state government officials his best guess about future tax collections. “This is clearly an art form, not a science. There are analytical pieces to it, but there is not a scientific equation or arithmetic equation.”
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Municipal budgets most stressed since ’80, report says

Dec 7 2011

By Brian MacQuarrie, The Boston Globe

“The numbers demonstrate just how difficult this recession and fiscal crisis have been for cities and towns,’’ said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation. “Their revenues have been virtually flat, while their costs have grown, which has meant cuts in schools, public safety, and other basic services for most cities and towns.’’
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Federal budget cuts worry Massachusetts cities and towns

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Sep 18 2011

By David Riley, MetroWest Daily News

At this point, the federal government’s likely course on Medicaid is “a big question mark,” but it will surely be part of the discussion on cutting the deficit, said Michael Widmer, president of the Massachusetts Taxpayers Foundation. “Since so much money is spent on Medicaid by the federal government, when they talk about reducing the deficit over the long term, it’s unquestionably one of the vulnerable areas, so to speak, from the point of view of the state,” Widmer said.

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Editorial: Now save it

May 5 2011

Worcester Telegram

And Michael Widmer, president of the Massachusetts Taxpayers Foundation, noted that the state is required to place capital gains revenue in excess of $1 billion into reserves.
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