The FY 2016 budget has been hampered by a large structural gap that is the result of $1.2 billion in one-time funds used in FY 2015 and $1.5 billion in spending growth for non-discretionary accounts. That $2.7 billion total shortfall is offset by tax revenue growth of $872 million, leaving a $1.8…

In anticipation of the release of the Governor’s budget later this week, this briefing provides a status report on fiscal year 2016 and an overview of what we anticipate for fiscal year 2017.

Tax revenues will grow by $1.1 billion, or 4.5 percent, to $25.5 billion in fiscal 2016, continuing the trend of modest growth yet still below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.“It’s alarming that even with…

The Foundation’s analysis concludes that the state is facing an estimated budget deficit of $1 billion for fiscal 2015.

Tax revenues will grow by $1.1 billion, or 4.7 percent, to $24.37 billion in fiscal 2015, continuing the trend of modest growth yet still below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation. “Despite an improving economic…

The Massachusetts Taxpayers Foundation applauds the Legislature for its vote to repeal the sales tax on computer and software services. This was a difficult but important vote, and the Foundation commends legislators for their quick action to repeal the tax and to make the repeal retroactive. The…

Citing the recently passed technology tax “as a grave danger to the future of the innovation economy,” 20 Massachusetts business leaders, representing both small and large companies, today filed an initiative petition to repeal the recently enacted 6.25% sales tax on computer and software…

The Foundation’s analysis of the Governor’s tax proposal shows that the elimination of the personal income tax exemptions and the additional corporate taxes account for most of the $1.9 billion in new revenues. The analysis also summarizes the 44 personal income tax exemptions and deductions that…

Fiscal 2014 tax revenues will grow by $835 million, or 3.9 percent, to $22.37 billion, according to a new forecast released today by the Massachusetts Taxpayers Foundation. “While fiscal 2014 shows an improving revenue picture, we are still a long way from experiencing the level of revenue growth…