In The News: Public Finance

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Big question for lawmakers: When will downturn come?

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Dec 6 2018

By Katie Lannan, State House News Service / CommonWealth Magazine

Massachusetts Taxpayers Foundation President Eileen McAnneny, whose prepared testimony was titled “Are the Good Times Already Over?”, urged budget-writers to be cautious of “pre-recession warning signs” in labor markets, home sales, the auto industry, business investments and oil prices.
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Our view: Saving for a rainy day

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Dec 6 2018

Gloucester Daily Times

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said there are already “pre-recession warning signs” everywhere from labor markets to the oil industry. “By historic markers, we are on borrowed time,” she said.
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Massachusetts budget experts predict slow tax revenue growth in FY2020

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Dec 5 2018

By Shira Schoenberg, MassLive

The business-backed Massachusetts Taxpayers Foundation and the right-leaning Beacon Hill Institute both predicted slightly higher tax revenue growth of around 2.4 percent, representing total revenues in the range of $29.5 billion to $30.3 billion. Massachusetts has an aging workforce. The foundation also points to a number of "pre-recession warning signs," including slowdowns in the labor market, home sales and auto sales and declining oil prices.
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State's rainy day account rebounds

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Nov 14 2018

By Christian Wade, Gloucester Daily Times

"We have made tremendous progress, but we really need to have a bigger cushion," said Eileen McAnneny, president of the nonpartisan Massachusetts Taxpayers Foundation. The rainy day fund’s balance compared to the state's $41 billion operating budget — the most common metric of a reserve fund’s health — is about 4.9 percent, she said. It was about 7.7 percent in the fiscal year before the recession. "We clearly still have a way to go," McAnneny said. "The credit ratings agencies would prefer that we be closer to 10 percent."
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Test lab not among seven pot licenses before CCC

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Jul 25 2018

By Colin Young, State House News Service / The Sentinel and Enterprise

The fiscal 2019 state budget bill on Gov. Charlie Baker's desk counts on $63 million in legal marijuana taxes, a total the Massachusetts Taxpayers Foundation says is unlikely to materialize. The foundation last week wrote in its analysis of the state budget bill that the marijuana licensing process "has proceeded more slowly than anticipated."
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$2 Rental Car Surcharge In Mass. Will Pay For Police Training

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Jul 25 2018

By Quincy Walters, WBUR

But the president of the Massachusetts Taxpayers Foundation, Eileen McAnneny, is concerned there will no longer be a routine review of spending on police training. "There's less accountability," she says. "It doesn't go through the annual budgeting process where lawmakers make a conscious choice to continue to fund it."
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Massachusetts ends fiscal year 2018 with $1.1 billion in extra tax revenue

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Jul 24 2018

By Shira Schoenberg, MassLive

"I think a sizable portion of it is due to federal tax reform, either directly or indirectly," said Eileen McAnneny, president of the Massachusetts Taxpayers Foundation. McAnneny added that the economy is also doing well, although only time will tell how much of revenue is attributable to sustained economic growth rather than one-time money from the tax reform.
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Mass. raked in 8.6 percent more tax revenue than last year. But why?

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Jul 24 2018

By Joshua Miller, The Boston Globe

“You have to give some credit where credit is due: A lot of this revenue is affiliated with federal tax reform in some way or another,” said Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation.
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Slow Rollout Of Pot Sales Clouds Marijuana Tax Forecast

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Jul 23 2018

CBS Boston

The Massachusetts Taxpayers Foundation said in an analysis of the new budget that it was unfortunate lawmakers did not lower marijuana revenue estimates, as they’re unlikely to hit the $63 million target.
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Slow rollout of pot sales may hit state tax revenue

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Jul 23 2018

The Boston Herald

The Massachusetts Taxpayers Foundation said in an analysis of the new budget that it was unfortunate lawmakers did not lower marijuana revenue estimates, as they’re unlikely to hit the $63 million target.
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