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The Governor’s FY 2018 budget proposal (House 1) has been released and proposes $45.2 billion in spending. This Bulletin provides an overview of the major spending, revenue and policy components included therein.
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Today, Governor Baker released his FY 2017 budget recommendations. His House 2 proposal recommends $39.55 billion in line item spending, an increase of $1.22 billion (3.2%) over FY 2016 projected spending. Of this $1.22 billion increase, $739.3...
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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...
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A combination of economic, political, and social/cultural factors tied to the end of American economic hegemony will permanently constrain the ability of state and local governments to fund programs and services.
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The Foundation released its 43rd annual report on municipal finances concluding that despite a modest rebound in revenues, municipalities find themselves in a long-term budget squeeze because the costs for pensions, employee and retiree health care,...
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On January 8th, Governor Baker announced $105 million in budget cuts and new revenues to partially address an midyear budget gap.
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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...
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This study, one of a series comparing the Commonwealth's taxes and business costs with other states, finds that Massachusetts ranks higher than the national average for personal income and corporate income taxes, and lower than average for sales and...
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In a major study of the effects of Question 5-the health care measure that appeared on the November ballot-MTF concludes that the initiative would cost state taxpayers, employers and consumers between $2.8 and $5.6 billion, in addition to the...