Quickly following the House’s actions, the Senate passed its budget late Wednesday, November 17. The Senate was able to expeditiously conclude its budget debate in two days, in part by adopting four bundled amendments that added $35 million in spending. The Senate budget, totaling $46.15 billion,…

While officials say the threshold will hit only the largest 6 percent of businesses in Massachusetts, the Massachusetts Taxpayers Foundation said the change will be “costly for them at a time many are reeling from the loss of business resulting from the pandemic.” The business-backed…

This week the House debated and passed its budget, four and a half months after the beginning of the fiscal year. With four consolidated amendments adding $24.53 million to spending, the budget, totaling $46.06 billion, is approximately $285 million larger than the Governor’s $45.78 billion revised…

According to the nonprofit Massachusetts Taxpayers Foundation (MTF), fiscal 2021 state revenues have already dropped an estimated $4 billion due to the economic impact of COVID-19, and hopes for a rapid recovery have faded. “The economic recovery will be like a Nike swoosh,” Bragan said,…

The Massachusetts Taxpayers Foundation said the Baker administration’s revenue estimate veered on the conservative end of projections made earlier this month, but noted fiscal 2022 could pose a bigger challenge. “The state will have to replace at least $3.5 billion in non-replicable revenues…

According to data from the Federal Reserve, cited by the Massachusetts Taxpayers Foundation in recent legislative testimony, the labor force in Massachusetts in August had 143,840 fewer workers than pre-pandemic, a decline of 3.9 percent. While the reason for the drop in Massachusetts is not…

Following months of economic uncertainty and temporary budgets to keep the state operating, Administration and Finance (ANF) provided the Legislature with its revenue and spending proposals for their review and consideration.  Notably, the Governor’s revised plan projects a growth in overall…

The Massachusetts Taxpayers Foundation warned that if Congress does not come through with additional relief, the state will be far from out of the woods in fiscal 2022 when school funding commitments, collective bargaining agreements and inflation will present another multi-billion dollar problem…

MTF President McAnneny shared a presentation with the Senate Revenue Working Group about the state’s revenue outlook and the road to recovery. Entitled "A Reality Check on Revenues and Recovery," the presentation argued that now is not the time to impose new taxes, if avoidable, given the degree of…

The Massachusetts Taxpayers Foundation, a business-backed watchdog, is expecting a drop in revenue of $3.9 billion compared to initial estimates, according to its president, Eileen McAnneny. Others projected a more positive picture, though they included little good news for this year. There…