Budget watchdogs dashed hopes for a quick recovery from the economic havoc wrought — seemingly overnight — by the coronavirus pandemic, warning the devastation of plummeting tax revenues and widespread unemployment could leave a red mark on state and...

The Massachusetts Taxpayers Foundation, a leading Beacon Hill watchdog group, recently revised its tax revenue forecast for next year, now predicting the state could collect $6 billion less than anticipated just five months ago. The foundation also...

Even then, the Massachusetts Taxpayers Foundation projected the state’s tax collections in fiscal year 2021 could fall $6 billion short of earlier estimates. ...

But defeat of the override will seem like a spring shower compared to the hurricane-sized threat posed by a potential COVID-caused loss of $800,000 to $1 million in state aid. A report released Monday, May 18, by the Massachusetts Taxpayers...

Last week, the Massachusetts Taxpayers Foundation estimated that state tax revenues will fall by $6 billion, or nearly 20 percent, in the next fiscal year, from the revenue outlook that state leaders established in January. DeLeo conceded that the...

The Massachusetts Taxpayers Foundation, a state watchdog group, issued a revised report this week projecting the state could collect $6 billion less in tax revenues in fiscal 2021 because of the coronavirus pandemic. MTF President Eileen McAnneny...

A Beacon Hill watchdog projects the state is facing a $6 billion revenue shortfall in the fiscal year that starts July 1. The report from the Massachusetts Taxpayers Foundation said Massachusetts will need to find new revenue, or drastically cut...

McAnneny now expects the shutdown to raise the state unemployment rate to 22 percent by the end of June. She projects that 323,000 jobs will be recovered by June 2021, but employment is unlikely to return to pre-pandemic levels before 2024. That will...

McAnneny said the foundation’s analysis was completed before Gov. Charlie Baker released his plan for the state’s reopening on Monday. She said the foundation’s analysis assumes that economic activity will resume this summer, but it will be slow and...

“More current data indicate that the economy is unlikely to ramp up quickly and the job loss will be far greater than originally expected. As the size, scope, and duration of this public health crisis grow, we have revised our forecast to reflect the...