Troubling state budgetary practices have left the Commonwealth’s Stabilization Fund balance insufficient to meet the next fiscal downturn and immediate action is needed to increase and safeguard the fund for future use, according to a report released today by the Massachusetts Taxpayers Foundation…

On behalf of the Massachusetts Taxpayers Foundation, I am writing in support of House Bill 3639, An Act to clarify the net-worth measure of the corporate excise.

Despite the vetoes, the 2016 budget bottom line remains virtually the same because there are both reduced appropriations and savings projections that are lower than originally anticipated.

The MTF is pleased to report that we were successful in preserving the FAS 109 tax deduction for over 120 companies based in Massachusetts while increasing the EITC to 23 percent thanks to the efforts of Governor Baker, Senate President Rosenberg and Speaker DeLeo.