Experts who testified suggested there may be room for both approaches. Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, suggested, similar to Baker, that lawmakers use some money now to ramp up existing programs and jumpstart the economy, while considering longer-term…

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the state needs to spend some relief funds to maintain its economic recovery but it should also squirrel away money for "unforeseen circumstances."

"We have until 2026 to actually spend it and we should take the time necessary to develop a forward-looking, comprehensive plan that considers other resources available and how best to leverage them for the maximum impact,” Eileen McAnneny of the Massachusetts Taxpayers Foundation said.

Please find attached the PowerPoint deck I presented yesterday at the invitation-only hearing hosted by the joint Ways and Means Committee and the House Committee of Federal Stimulus and Census Oversight. As a recognized expert on the American Rescue Plan funds, MTF offered some initial thoughts on…

On July 16th, Governor Baker signed the FY 2022 budget while making modest changes to the Legislature’s final spending plan. The Governor struck $7.85 million of the $48.1 billion budget, vetoed two sections and returned 25 sections with amendment. This bulletin summarizes the Governor’s veto…

th, MTF held a forum effective use of American Rescue Plan funds which included a presentation from Sheanna Gomes, Senior Associate for the State Fiscal Health project at the Pew Charitable Trusts. Her presentation highlights important considerations as states look to use federal Fiscal Recovery…

Doug Howgate, executive vice president at the Massachusetts Taxpayers Foundation, said that many business owners would gladly accept the tradeoff inherent in the Legislature’s approved budget, given that they still stand to save a substantial amount of money. Under the provision, use of the…

"Achieving a balance well in excess of $5 billion is a critical goal for the Commonwealth as we build our economic recovery and prepare for future challenges," the Massachusetts Taxpayers Foundation wrote in a report about the budget redraft.

The House and Senate have enacted a $48.1 billion fiscal year (FY) 2022 budget, about a week after the start of the new fiscal year. The budget now moves to the Governor’s desk, where he has ten days to sign the budget and return vetoes and amendments.

The tax revenue upgrade allowed budget writers to eliminate the proposed use of one-time revenues, including a plan to tap the state's "rainy day'' or stabilization fund to balance the budget. Despite the surge in tax revenues, the budget doesn't add significant new annual spending not proposed by…