Publications: Budget

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  • April 11 2018

    The House Ways and Means Committee (HWM) has released its $45.96 billion budget for fiscal year (FY) 2019, its first under Chairman Sanchez. This bulletin provides an overview of this proposal, which will be debated by the full House during the week of April 23rd.

  • March 29 2018
    Two months ago, MTF identified ten key questions that will shape the FY 2019 budget. Now it is time to revisit those questions in the context of Governor Baker’s budget recommendations and the latest revenue and policy developments.
  • January 24 2018

    Governor Baker has proposed a $45.9 billion budget for fiscal year (FY) 2019. This bulletin provides an overview of notable spending, revenue and policy proposals included in the document.

  • January 23 2018
    At the Foundation, we are looking at the TCJA through two primary lenses: the likely impact of the federal changes on state revenues; and the impacts on subgroups of taxpayers in Massachusetts– both individuals and corporations – that may warrant state policy changes.
  • January 12 2018
    Today, the Secretary for Administration and Finance and the House and Senate Committees on Ways and Means announced a consensus tax revenue figure of $27.594 billion for FY 2019. As part of the agreement, the FY 2018 tax estimate has been upgraded by $157 million to $26.661 billion. Budget makers expect tax revenue to grow by $933 million (3.5 percent) as they put together the FY 2019 budget.
  • January 8 2018

    The fiscal year (FY) 2019 budget process is officially underway, commencing last month with the annual Consensus Revenue Hearing. The testimony provided at the hearing touched on a number of issues – including slow revenue growth, insufficient reserves and growing nondiscretionary costs – that have contributed to the budget challenges of recent years. The testimony also highlighted several potential policy changes at both the state and national level that will make developing the FY 2019 budget particularly difficult. This brief poses ten major questions that budget makers will face in the coming months.

  • December 15 2017

    Heading toward the halfway mark in fiscal year (FY) 2018, the state’s short-term fiscal outlook remains unclear. At this point in the fiscal year, the state budget appears to be in balance, with known spending needs largely offset by stronger than expected revenue collections. However, several potential budget problems are lurking on the horizon while a change in revenue trends or a surge in capital gains collections could quickly eliminate any revenue surplus. This brief outlines the current fiscal situation and highlights issues to watch in the months ahead.

  • December 6 2017
    Forecasting state tax revenues 18 months into the future is always risky as unforeseen events often undermine predictions as the past three years have demonstrated.