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Displaying 621-630 of 649
Dec 31, 2002
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Dec 31, 2002
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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…
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Sep 30, 2002
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Sep 30, 2002
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In the 32nd edition of its annual summary of trends in local revenue, spending and property taxes, the Foundation concludes that municipal finances have entered a new and much more difficult phase. While overall performance remained healthy in 2002, continuing weakness in the state economy and the…
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Sep 30, 2002
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Sep 30, 2002
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MTF and three other business organizations have joined together to defeat Question 1, the Libertarian Party's reckless proposal to abolish the state income tax. If adopted, this extreme measure would throw the finances of state and local governments into chaos and inevitably lead to major increases…
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Jul 31, 2002
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Jul 31, 2002
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In a new analysis, the Foundation credits the state's leaders for their efforts to address the Commonwealth's fiscal crisis through a realistic combination of spending cuts and tax increases in 2003. However, MTF warns that a remaining large structural deficit will require further painful choices…
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May 31, 2002
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May 31, 2002
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As a result of recent tax revenue shortfalls, the House and Senate versions of the state budget for fiscal 2003 are at least $650 million out of balance. With more than $1 billion of additional tax revenues already included in the legislative budgets and almost $2 billion of the state's $3 billion…
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Apr 30, 2002
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Apr 30, 2002
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As the state struggles with a more than $2 billion budget gap in fiscal 2003, its leaders have an opportunity -- and a responsibility -- to correct spending abuses and eliminate inefficiencies that have been tolerated in the recent good times, especially when programs are being cut and taxes raised…
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Mar 31, 2002
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Mar 31, 2002
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While the state's leaders have agreed on a plan to fill the huge revenue shortfall in 2002, even larger deficits in 2003 and beyond remain unaddressed. Almost $1.3 billion will be drawn from reserves in 2002, and another $134 million of "savings" will come from unwisely reducing the contribution to…
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Feb 28, 2002
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Feb 28, 2002
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After plummeting more than $1.8 billion in fiscal 2002, state tax revenues will remain flat in 2003 as gains from a projected mild recovery are offset by the impact of prior tax cuts, according to a forecast presented by MTF to members of the House and Senate Ways and Means Committees at their…
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Jan 31, 2002
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Jan 31, 2002
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While acknowledging that the Commonwealth faces a $2 billion fiscal shortfall in fiscal 2003, in attempting to close that gap the administration's budget proposal relies on overly optimistic revenue growth projections, excessive use of reserves, an unwise reduction in pension funding and other…
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Dec 31, 2001
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Dec 31, 2001
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In its annual analysis of state spending, the Taxpayers Foundation warns of a looming fiscal crisis, with the Commonwealth facing a budget shortfall between $1.7 and $2.1 billion in fiscal 2003. According to the report, the 2002 budget will also likely end the year between $125 and $450 million out…
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