MTF proposes tighter standards for using the Commonwealth's rainy day fund, ensuring that the fund is tapped only if deteriorating economic conditions cause a significant drop in state revenue growth.

Given the recent economic downturn, state tax revenue growth will slow markedly in fiscal 2001 and 2002, according to a forecast presented by MTF to members of the House and Senate Ways and Means Committees at their annual revenue hearing.

In its annual report on state spending, MTF reports that with tax collections weakening precipitously, achieving a balanced state budget for fiscal 2002 is likely to be the most difficult financial challenge in a decade. The report highlights three...

In its annual analysis of state spending, MTF reports that soaring expectations are creating a demand for a combination of major spending increases and large tax cuts that cannot be sustained in the long term. The report recognizes the Legislature...