Eileen McAnneny, the president of the Massachusetts Taxpayers Foundation, said she thinks it’s possible. And she questioned whether it made sense to impose what she considers a politically risky tax on millionaires when the cap is simply going to return a large portion of the revenue the tax will…

“The surplus is a little bit larger than we initially anticipated, even a couple weeks ago,” said Doug Howgate, executive vice president of the Massachusetts Taxpayers Foundation, a business-backed budget watchdog that, as recently as last week, estimated the surplus could reach nearly $4.7 billion…

Two straight years of surging tax collections have put in focus M.G.L.c. 62F, a little known state law that establishes a limit on allowable tax revenues. This brief summarizes the law and assesses what it could mean for fiscal year 2022 and beyond.

On July 28th, Governor Baker signed the FY 2023 budget. In doing so, the Governor essentially agreed with the legislative spending plan, vetoing just $475,000, however, he also proposed a number of changes to the policy provisions in the budget, returning 41 sections with amendment. This bulletin…

Through the middle of June, the final month of fiscal 2022, Massachusetts had collected $39.199 billion in tax revenue for fiscal year 2022, enough that the Massachusetts Taxpayers Foundation estimated a surplus in the neighborhood of $3.5 billion.

The Senate engrossed a $5.1 billion spending, economic development, and tax relief package last week, increasing the fiscal impact of the bill by $271.3 million during floor debate.  This Brief summarizes the new spending, tax, and policy provisions added through amendment.  The bill will…

The Senate leadership’s economic development bill does spend more on environmental infrastructure overall than the House, according to a Massachusetts Taxpayers Foundation analysis, once items such as electric-car chargers are factored in. But Mass Audubon president David O’Neill said it’s…

Just days after the House concluded its debate, the Senate Committee on Ways and Means (SWM) released its version of a $4.8 billion proposal that makes direct appropriations, authorizes capital spending, proposes tax relief and includes economic development policy initiatives. The bill spends from…

The House engrossed a $4.8 billion spending, economic development, and tax relief package last week increasing the fiscal impact of the bill by $499.2 million after two days of debate.  This Brief summarizes the new spending, tax, and policy provisions added during the House debate.  The…

The House and Senate have enacted a $59.6 billion fiscal year (FY) 2023 budget, which includes all major spending proposals in either budget as well as several new large investments in areas like early education, K-12, and transportation. The conference budget includes close to $2.8 billion more…