Publications: Budget

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  • June 27 2019
    The Commonwealth of Massachusetts may be on track to end fiscal year 2019 with a surplus of approximately $522 million according to a new analysis. MTF outlined a framework for handling any fiscal 2019 surplus, including (1) Add to the state’s “rainy day” fund; (2) Pay down unfunded pension and OPEB liabilities; (3) Make one-time investments in transportation and education initiatives.
  • June 21 2019
    As you know, tax revenue collections through May 2019 exceeded expectations by $952 million. If this strength continues through June, budgeted tax revenue will grow nearly seven percent over the strong fiscal 2018 collections.
  • June 10 2019

    The Massachusetts Taxpayers Foundation asks lawmakers to consider five questions before casting their votes: 1) Does this income tax surcharge meet the standards of a sound tax policy? 2) Will the estimated $1.9 billion in new tax revenue materialize? 3) Will overall spending on transportation and education increase by $1.9 billion? 4) If this experiment fails, what options are available to fix a constitutional change? 5) Is the change to the Constitution that adds the surtax the best option available to the Legislature?

  • May 29 2019
    Last week, the Massachusetts State Senate finalized its version of the fiscal year 2020 budget after considering the Senate Committee on Ways and Means (SWM) budget proposal and the 1,142 amendments filed by Senators. The differences between the House and Senate versions will now be resolved by a conference committee anticipated to be appointed next week.
  • May 8 2019
    On May 7, the Senate Committee on Ways and Means (SWM) unveiled their budget proposal for state fiscal year 2020, which begins July 1, 2019. The proposal, the first under new Chair Michael J. Rodrigues, authorizes $43.2 billion in spending in fiscal 2020.1 This policy brief highlights key elements of the plan and provides an initial analysis of the SWM budget.
  • May 6 2019

    Eileen McAnneny, the President of the Massachusetts Taxpayers Foundation (MTF), reacted today to the announcement of April tax revenue collections by the Massachusetts Department of Revenue (DOR). “Robust revenue collection is a good news story,” said McAnneny.

  • April 11 2019
    On April 10, the Massachusetts Legislature’s House Committee on Ways and Means (HWM) released its version of the fiscal 2020 budget, which begins on July 1, 2019.1 The proposal, the first under new Chair Aaron Michlewicz, details the House’s spending priorities totaling $43.2 billion.
  • April 11 2019
    Thank you for this opportunity to testify today on S.16/H.86, the proposal to amend the Massachusetts Constitution to impose an additional surtax on annual income over $1 million. I am Eileen McAnneny, President of the Massachusetts Taxpayers Foundation.