The Massachusetts Taxpayers Foundation warned that if Congress does not come through with additional relief, the state will be far from out of the woods in fiscal 2022 when school funding commitments, collective bargaining agreements and inflation will present another multi-billion dollar problem to solve. “The state will have to hope for further federal assistance, an economic rebound and strong tax revenue growth because the $2.2 billion remaining in the Stabilization or Rainy Day Fund is not sufficient to weather this storm,” the fiscal think tank concluded.
October 14, 2020
FY 2021
Baker seeks quick budget turnaround, would veto tax hikes
The Massachusetts Taxpayers Foundation warned that if Congress does not come through with additional relief, the state will be far from out of the woods in fiscal 2022 when school funding commitments, collective bargaining agreements and inflation will present another multi-billion dollar problem to solve. “The state will have to hope for further federal assistance, an economic rebound and strong tax revenue growth because the $2.2 billion remaining in the Stabilization or Rainy Day Fund is not sufficient to weather this storm,” the fiscal think tank concluded.
