The Massachusetts Taxpayers Foundation, a business-backed research institute, predicted that the state would end the fiscal year in less than three days with a sizable surplus that would allow lawmakers to cover additional spending and deposit money into the “rainy day” account.

But this year the Bay State is expected to end the fiscal year with a tax revenue surplus of more than $3 million. The Massachusetts Taxpayers Foundation, a fiscal watchdog group, says the state has so far collected $3.95 billion more than it projected to in fiscal 2021.

Eileen McAnneny, the president of the Massachusetts Taxpayers Foundation, wasn’t enthusiastic about the governor’s two-month sales tax holiday. She thought the money could be better spent on job training or replenishing the unemployment insurance fund to reduce assessments on the state’s businesses…

“This isn’t about crisis management today, but about that longer term,” said Douglas Howgate, executive vice president of the Massachusetts Taxpayers Foundation, in an interview. “So it’s appropriate that [federal funds go] through the Legislature. That said, there’s also a role for the…

The United States Treasury recently released guidance concerning fiscal recovery funds (FRF) provided to states, counties and municipalities that were authorized in the American Rescue Plan. The guidance provides critical details on eligible uses for each of the four categories of FRF spending, as…

Putting the $2.1 billion over-benchmark number for May in context, Doug Howgate of the Massachusetts Taxpayers Foundation said tax collections in Massachusetts have never exceeded benchmarks for any full fiscal year going back to at least fiscal 2006.

Publicly subjecting spending decisions to that type of process — particularly for an unprecedented lump sum of federal funds — helps offer “much-needed clarity,” said Eileen P. McAnneny, president of the Massachusetts Taxpayers Foundation.

Today, the Senate completed three days of debate to finalize its fiscal year (FY) 2022 budget.  After adding $63.7 million in additional spending and 83 new policy sections, the Senate and House budgets will now be reconciled through conference committee negotiations as we near the July 1st…

A breakdown of the 923 Senate amendments to the FY 2022 budget

Doug Howgate, of the business-backed Massachusetts Taxpayers Foundation, said the size and scope of the federal largesse is unprecedented. “The big challenge is how you balance the needs right now with the reality that you need to make sure resources are available for what they’re supposed to…