Doug Howgate, president of the business-backed Massachusetts Taxpayers Foundation, urged lawmakers on Tuesday to not use any of the revenue the tax generates this year, and to cap how much it dips into next year at $500 million while the state gains a handle on the money it could produce.

“The cap that we suggested is, I think, one way to do it,” Howgate said. “That’s not to say there could be another approach that makes sense as well.”