December 05, 2023
PUBLIC FINANCE > Budget > FY 2024

Massachusetts tax revenues miss November target by 10.9 percent, now trailing fiscal 2024 projection by $627 million

Chris Lisinski ,

State House News Service / The Berkshire Eagle

State revenues including surtax collections need to increase 5.7 percent over the fiscal 2023 total to hit the fiscal 2024 benchmark, according to Doug Howgate, president of the Massachusetts Taxpayers Foundation. Five months in, the growth so far has been only a single percentage point, well below the necessary pace and significantly less than the 6.2 percent annual spending increase authorized in the state budget.