Tax revenues will grow by $980 million, or 3.8 percent, to $26.69 billion in fiscal 2017, slower than the 4.6 percent annual average over the past five years and below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.Eileen McAnneny, president of MTF, presented the Foundation’s economic and revenue forecast to members of the House and Senate Ways and Means Committees and the Secretary of Administration and Finance at their annual consensus revenue hearing at the State House.“In a time of heightened economic uncertainty, caution is the only course. This entails replenishing the stabilization fund and balancing the budget without the use of one-time revenues.”
December 16, 2015
FY 2017
MTF Forecast: Slower Growth in Tax Revenues in FY 2017
Tax revenues will grow by $980 million, or 3.8 percent, to $26.69 billion in fiscal 2017, slower than the 4.6 percent annual average over the past five years and below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.Eileen McAnneny, president of MTF, presented the Foundation’s economic and revenue forecast to members of the House and Senate Ways and Means Committees and the Secretary of Administration and Finance at their annual consensus revenue hearing at the State House.“In a time of heightened economic uncertainty, caution is the only course. This entails replenishing the stabilization fund and balancing the budget without the use of one-time revenues.”
