December 22, 2021

State's economic outlook could face rising inflation, other factors

Christian Wade ,

The Daily News

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, predicted state revenue growth will remain “robust” in fiscal year 2022 at $37.2 billion, or about $3.1 billion higher than the previous fiscal year. “This growth of 9% is fueled by employment bouncing back, wage increases, increased spending on durable good and healthy profits for corporate. But McAnneny said the next fiscal year will be a “completely different story” with state revenues likely “reverting back to period of stalled growth” as tax collections slow down.