In The News: Revenue

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Shortfall predicted for Mass. state budget

Sep 29 2009

By Brad Puffer, NECN

But Michael Widmer of the Massachusetts Taxpayers Foundation says if these early numbers hold, he expects there to be new cuts. "Cuts upon cuts upon cuts, so it's really a pretty drastic situation that is not going to end anytime soon."
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State's revenue collections below projections

Aug 5 2009

By Matt Murphy, The Lowell Sun

"July is not a big month (for tax collections), but what it does is support the case that the revenue estimate for fiscal 2010 is on the high side," said Michael Widmer, president of the Massachusetts Taxpayers Foundation. "It raises the concern that we may fall short $300 million to $500 million for the year."
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State tax group predicts dour 2010

May 6 2009

By Jesse Noyes, Memphis Business Journal / Boston Business Journal

The Massachusetts Taxpayers Foundation (MTF) projected tax revenues will reach $17.82 billion in 2010, a steep drop from the $20.89 billion collected in 2008 and the $18.44 billion the state expects to take in this fiscal year.
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Anticipated $2.4 billion decline in Mass. tax revenue will result in thousands of job loses, cuts in services, lawmakers warn

May 6 2009

By Dan Ring, The Republican

Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, said the state could need to spend up to $800 million from what's left in the rainy day fund this fiscal year, leaving it with only $500 million going into the next fiscal year.
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State facing years of fiscal woes, analysts say

May 6 2009

By Matt Viser, The Boston Globe

"This is going to be the worst fiscal crisis in the state's history," said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation. "I think it's fair to say it's a catastrophe. That's not an overstatement." Widmer projects that state tax collections will not return to 2008 levels until at least 2014, as state revenues lag behind a slowly rebuilding economy.
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No relief soon: Mass. likely in crisis till 2014

May 6 2009

The Metro

Massachusetts Taxpayers Foundation President Michael Widmer predicted that state tax collections would not rebound to $21 billion, slightly above fiscal 2008 levels, until fiscal 2013 or fiscal 2014. I think it's fair to say it's a catastrophe," Widmer said, calling the state's predicament "the worst fiscal crisis in the state's history."
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Mass. trying to address plummeting tax revenues

May 5 2009

Mass. trying to address plummeting tax revenues

By Steve LeBlanc, Worcester Telegram / AP

Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, predicted the state would collect just $17.8 billion in the fiscal year beginning July 1. "I think it's fair to say it's a catastrophe," Widmer said. "It's the worst single year in the state's history."

 

 

Braude Beat: Tax collections fall

May 5 2009

By Jim Braude, NECN

This is certainly not good news for those who opposed tax increases. Michael Widmer of the Massachusetts Taxpayers Foundation says, "I think the devastating drop in revenues virtually assures we're going to have a multi-year crisis, and that's the huge dilemma you face."
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State budget to be 'doom and gloom' for years to come

May 5 2009

By Matt Viser, The Boston Globe

Michael Widmer, president of the Massachusetts Taxpayers Foundation, said state tax collections would not return to 2008 levels until at least 2014. "This is going to be the worst fiscal crisis in the state's history," Widmer said.
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Mass. House to debate 1.25 percent sales tax hike

Apr 27 2009

By Steve LeBlanc, Houma Today / AP

A report by the business-backed Massachusetts Taxpayers Foundation, which researches state spending, found that a 1 percent increase in the state sales tax would cost the average taxpayer an extra $122 a year. A family would pay out an extra $322 annually. Currently, of the 45 states with broad-based sales taxes, Massachusetts ranks last when measuring the amount of sales tax collected per $1,000 of income - in part because its sales tax is much narrower than in other states and exempts food, services and clothing under $175, according to the foundation.
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