The Commonwealth has not formally revised its January 2020 consensus revenue forecast for fiscal 2020 and fiscal 2021 in light of the coronavirus-driven recession now underway, with a new forecast likely to emerge from fiscal 2021 budget...

“After the fiscal impact of COVID-19 … policymakers may need to modify the implementation schedule for this new law,” Massachusetts Taxpayers Foundation President Eileen McAnneny wrote to lawmakers in late April. “For example, lawmakers may...

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...

Eileen McAnneny, the president of the Massachusetts Taxpayers Foundation,a business-backed fiscal watchdog, said she understands generally where the money will go. “Having said that, I agree that there should have been more detail so that it is...

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the tight time frame – with only two weeks left before the June 30 end of the fiscal year – means it might make sense to bypass the multiple iterations that a budget typically...

 The Massachusetts Taxpayers Foundation said in May that the state could expect to collect as much as $6 billion less in tax revenue this year due to the COVID-19 pandemic. ...

The MBTA faces "existential" long-term budget challenges as the pandemic's impact on revenue exacerbates existing trends, a fiscal watchdog group warned in a new report. By fiscal year 2022, the T could have an operating budget deficit of more...

“Even before the pandemic hit, the MBTA’s operating costs jumped by 5.3%, a five-fold increase over previous years. Combine that steep rise in expenses with a $240 million loss in fare revenues due to the pandemic, and the T’s balanced budget has...

The business-backed financial watchdog said $827 million in federal aid is bailing out the T this fiscal year and next, but the transit authority is likely to face a $400 million deficit in fiscal 2022, which begins on July 1, 2021. Long-term, the...

Budget watchdogs are warning of more pain to come. The Massachusetts Taxpayers Foundation, in a report released last week, projected it could take five years for revenues to exceed prepandemic levels, and that the state could be looking at revenue...