Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the state balance sheet is strong enough for Beacon Hill to still carry out its economic development agenda. Year-over-year tax collections grew over 20 percent, and the state surplus is at an eye-popping $4.9 billion. There’s also $2.3 billion in federal relief funds that have yet to be appropriated.

“That does afford a lot of tax relief and other investment,” said McAnneny.