As recently as late May, the watchdog group Massachusetts Taxpayers Foundation predicted the state could lose up to $6 billion in tax revenue for fiscal 2021. Mass.gov lists the original benchmark for tax revenue for FY 2020 at slightly more than $30 billion. This would represent about a 20 percent drop year to year. That number is worse than the devastating financial crisis at the end of the last decade when losses hit 10-15 percent.
June 19, 2020
FY 2021
Adams Sets First Month's Budget With Fiscal Restraint The Hope
As recently as late May, the watchdog group Massachusetts Taxpayers Foundation predicted the state could lose up to $6 billion in tax revenue for fiscal 2021. Mass.gov lists the original benchmark for tax revenue for FY 2020 at slightly more than $30 billion. This would represent about a 20 percent drop year to year. That number is worse than the devastating financial crisis at the end of the last decade when losses hit 10-15 percent.
