December 17, 2021

Mass. rainy day fund hits highest level ever

Shira Schoenberg ,

Commonwealth Magazine

“The net difference between where we thought we were going to be and where we are is literally billions of dollars,” said Doug Howgate, executive vice president of the Massachusetts Taxpayers Foundation. Howgate said early in the pandemic, policymakers were looking back at the 2008 recession and predicting another rainy day fund drawdown. There was also uncertainty about how long businesses would be closed.