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.
December 22, 2021
Revenue
State's economic outlook could face rising inflation, other factors
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.
