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…

The Massachusetts Taxpayers Foundation recommended last week that tax revenue estimates be upgraded by a minimum of $3.8 billion, and the big question is how negotiators will choose to allocate those unanticipated revenues.

On behalf of the Massachusetts Business Coalition on Skills (MBCS), we are writing in support of H.666 / S.348 and H.652 / S.357 because they increase access to career/vocational technical education (CVTE) in Massachusetts. The MBCS – a coalition of 28 diverse business organizations from across the…

Doug Howgate, executive vice president of the business-backed Massachusetts Taxpayers Foundation, said the magnitude of the federal response is unprecedented and requires the balancing of speed and strategy to create long-term benefits with one-time money. “There’s always going to be this balance…

The House and Senate, working with the Administration, need to adjust assumed FY 2022 tax collections and determine how that adjustment will impact the budget and the state’s fiscal health.  This bulletin examines likely tax upgrade scenarios and the impact of those scenarios on the state’s…