Tax revenues will increase roughly five percent per year in 2006 and 2007-down from the almost seven percent average pace of the last two years-as the state's workforce continues to expand at less than half the national rate, according to a forecast released today by the Massachusetts Taxpayers…

In order to help address the "relentless squeeze" on municipal finances in Massachusetts, the state should dedicate 40 percent of tax revenues to local aid and develop a new system for benchmarking local costs, according to the Foundation's 35th annual analysis of local revenues and spending. In…

In a new analysis, the Foundation predicts a modest structural surplus in the state budget for fiscal year 2005 while sounding a warning on 2006 finances.

With the final Senate version of the fiscal 2006 budget $358 million higher than the House, the members of the 2006 budget conference committee will face the challenge of reducing the reliance on one-time revenues to pay for additional spending, according to a recently released analysis by the…

According to a new Foundation analysis, the fiscal 2006 budget recently adopted by the House takes a straightforward and constructive approach to the Commonwealth's finances over the coming year, with limited spending growth-only 2.5 percent over 2005-and a conscious focus on budget-making rather…

In its annual review of state finances, the Taxpayers Foundation warns that largely uncontrollable growth in spending for core programs is outpacing the revenue growth that can be expected to be generated by the state's economy and tax base over the long term, leaving next to nothing for restoring…

Governor Romney has proposed minimal spending growth in his state budget for fiscal 2006, reflecting the reality that the Commonwealth will face tight budgets for the foreseeable future. However, fiscal balance in the proposed budget-which would also cut the income tax by $450 million over two…

As part of the Academy for New State Legislators held at UMass Amherst, MTF President Michael J. Widmer provided incoming representatives and senators with an overview of key state and local financial issues. The presentation traces the impacts of the Commonwealth's ongoing fiscal crisis and…

Over the next two fiscal years, state tax revenues will rise between four and five percent annually as a result of gradually improving economic conditions, according to the Foundation's new forecast. However, despite the improved tax outlook, the state is still struggling with a significant…

In this updated analysis, the Foundation concludes that despite the improving economy and declarations of budget surpluses, the state is still confronting a large and growing structural deficit. Even with tax revenues on track to exceed budget benchmarks again this year, the state is still relying…