In the attached table, the Foundation summarizes and contrasts the 2013 budget proposals of Governor Patrick, the House and Senate Ways and Means as well as final spending for fiscal 2010 and 2011 and the original and projected spending for fiscal 2012.

Fiscal 2013 tax revenues will grow by $822 million, or 3.9 percent, to $22 billion, less than half the rate of expansion in fiscal 2011, according to a new forecast released today by the Massachusetts Taxpayers Foundation.“The small growth in tax revenues will put great strains on the fiscal 2013…

Fiscal 2012 tax revenues will grow by $923 million or 4.7 percent to reach a total of $20.56 billion, according to a new forecast released today by the Massachusetts Taxpayers Foundation. The Foundation projects tax collections of $19.63 billion in fiscal 2011, an increase of $554 million over the…

“Preparing a budget months in advance is difficult in the best of circumstances but this year is particularly challenging given the huge revenue swings that could result from any one of several scenarios in play, including the potential impact on state finances from federal tax cuts and ballot…

In a presentation to business and government leaders, MTF President Michael Widmer described the $2 to $2.5 billion budget gap facing the state in 2012, which will likely turn out to be the most difficult year of the state's extended fiscal crisis. Compounding this predicament, should voters…

In a newly released report, Maximizing the Value of Our Human Services Dollars, the Foundation makes two major recommendations: to streamline the administrative structure of the state's human services agencies; and to close ten antiquated and expensive institutions and move clients into community…

The Senate recommends spending $31.4 billion, roughly $250 million less than the Governor in fiscal 2011 but $100 million more than the House, and does not rely on a draw from the state stabilization fund or increased taxes. However, with roughly $2 billion of one-time funds in the budget, the 2012…

MTF President Michael J. Widmer presented to the Boston Economic Club an update on state and local finances.

In a presentation to business and government leaders, MTF President Michael J. Widmer described the enormous fiscal problems that will face the state and municipalities at least through fiscal 2012 - even with an economic recovery. The state has depended heavily on federal stimulus dollars and "…

The Governor's reliance on more than $2 billion of one-time funds in his $31.7 billion fiscal 2011 budget will require major budget cuts in 2012. According to the Foundation's analysis, even if revenues grow by $1 billion in 2012, the state would still confront a $2.5 billion shortfall with…