Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the increase in revenue is something she hasn’t seen in her lifetime. “It is incredible,” she said. McAnneny said inflation and labor shortages are pushing up wages and as they increase so do taxes on them. She said tax…

The Massachusetts Taxpayers Foundation has long argued that an aging, retiring workforce will cause challenges in Massachusetts. Goodman said COVID has sped up that challenge. While in past recessions, older adults often delayed retiring for financial reasons, this time, many older adults are…

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, predicted state revenue growth will remain “robust” in fiscal year 2022 at $37.2 billion, or about $3.1 billion higher than the previous fiscal year. “This growth of 9% is fueled by employment bouncing back, wage increases,…

The Massachusetts Taxpayers Foundation offered a mixed outlook, with President Eileen McAnneny forecasting that revenue growth will “remain robust” this fiscal year before flipping to a “completely different story” next year when the situation will revert “back to a period of stalled growth. ”…

The news, announced Friday afternoon, comes after the Massachusetts Taxpayers Foundation reported that, based on spending rates in September, the Commonwealth Cares for Children (C3) grants, which were launched over the summer, would be spent down by the end of February 2022.

Withholding taxes – tax payments automatically deducted from paychecks and unemployment insurance benefits and paid directly to the government – were $80 million above year-ago levels. Baker said the regular unemployment insurance benefit plus the extra $600 payment from the federal government kept…

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the July numbers were perplexing. She said it was hard to understand how tax withholding – the amount withheld from worker paychecks and paid directly to the government in taxes – could be up $80 million compared to July…

Tax revenues will grow much more slowly in 2007 and 2008 than they did the past two years, according to a forecast released today by the Massachusetts Taxpayers Foundation.

Because of the continuing weakness of the state and national economy -- and the uncertainty about future economic growth -- state tax revenues will fall short in fiscal 2003 and grow at an anemic pace in 2004, according to a forecast presented by MTF to members of the House and Senate Ways and…