Budget leaders from the House, Senate, and Administration have agreed on a $40.410 billion consensus tax revenue figure for the fiscal year 2024 budget. Budget makers expect tax revenues to grow by $642 million (1.6 percent) over estimated FY 2023 collections of $39.768 billion. Notably, the…

The state’s 4 percent surtax on income over $1 million is now in effect.  The new tax raises critical policy questions related to its effect on long-term economic growth and its impact on other areas of the tax code.  At the same time, the surtax creates a number of fiscal and tax policy…

Following a startling $11.5 billion surge in FY 2021 and FY 2022, tax revenues for this year and next settle into a lower and slower growth pattern as global risks escalate. MTF projects that FY 2023 revenues will top the $39.62 billion benchmark by $75 million and grow to $40.06 billion in FY 2024…

This is a two-part virtual meeting on December 2 from 10:00 am - 12:00 noon and December 9 from 10:00 am - 12:00 noon. Please click here or on the image below to learn about and register for this event.    

This November, voters will decide whether or not to approve a ballot initiative that would impose a new tax on income over a million dollars. If approved, this change to the state’s constitution takes effect on January 1, 2023. MTF does not support this initiative out of concern for…

The Massachusetts Taxpayers Foundation, a business-backed budget watchdog, projected last week that lawmakers will have a surplus of nearly $3.6 billion from the fiscal year that ended last week, an amount it called “historic.”

The Massachusetts Taxpayers Foundation projected last week that the Legislature will have a $3.6 billion budget surplus available once final accounting is complete for fiscal year 2022, which ended June 30. The state Department of Revenue has not yet reported how much the state collected in taxes…

Our organizations, representing thousands of employers and hundreds of thousands of employees in Massachusetts, write to urge you to adopt the tax changes included in H.4361, An Act to improve Massachusetts’ competitiveness and reduce the cost of living. The unique combination of tax adjustments…

For analysis on the budget proposal and Baker’s tax cut plans, WAMC’s Pioneer Valley Bureau Chief Paul Tuthill spoke with Eileen McAnneny, President of the Massachusetts Taxpayers Foundation.

This MTF policy call will provide a comprehensive overview of the FY 2023 House Ways & Means budget proposal. We will look at new spending and policy initiatives to be considered by the House, assess the status of Governor Baker’s tax relief proposal, and consider how the bill fits into the…