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 deliberations. One outside group, the Massachusetts Taxpayers…

“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 postpone the start of implementation until…

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 billion. This would represent about a 20 percent…

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 transparent to the public how the funds will be used…

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 goes through, as it goes from the governor to…

 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.

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 that’s $6 billion less than what was expected.

As Congress bickers over the size and scope of the next federal relief package, the Massachusetts Taxpayers Foundation warned this week that the pillars of the state’s economy – health care, higher education, tourism – could be so fundamentally shaken that a sharp “V” shaped recovery is no longer…

Hopes for an expedited economic rebound from the COVID-19 shutdown simply isn’t realistic, according to the Massachusetts Taxpayers Foundation, which predicts a prolonged recovery period that will strain state resources, which may not fully recover until 2025. The impacts of the economy’s swoon…

“If you’re selling that many fewer meals, it means you may have less profit, you pay less taxes, and so it goes,” Eileen McAnneny, president of the Massachusetts Taxpayers Foundation said. Back in April, the foundation forecasted a V-shaped recovery. But, McAnenny said, “since then, it seems like…