State tax revenues for fiscal 2011 will total $18.953 billion, a $674 million increase over the fiscal 2010 revised benchmark, according to a new forecast today by the Massachusetts Taxpayers Foundation.MTF President Michael J. Widmer, who presented the forecast at the annual consensus revenue…

Despite steps taken by the Governor and Legislature, the fiscal 2010 budget is $300 - $500 million out of balance. Because of the heavy reliance on one-time funds in 2010, the state faces a structural deficit of $3 billion in fiscal 2011, which will require spending reductions comparable to cuts in…

President Michael J. Widmer presented MTF's revised fiscal 2010 revenue forecast to the Senate and House Ways and Means Committee.

MTF President Michael Widmer presented an overview of state and local finances to the Boston Municipal Analyst Forum

In a presentation to business and government leaders, MTF President Michael Widmer described the global recession's enormous impact on state and local finances and the state's dependence on $5 billion of one-time state and federal funds to balance the fiscal 2009 and 2010 budgets. Because of the…

The Massachusetts Taxpayers Foundation recently received a prestigious national award for its research and public education on the fiscal and economic impact of the November 2008 ballot question to repeal the state income tax. The Foundation was awarded a Certificate of Merit in the Most Effective…

State tax revenues likely to collapse an unprecedented $3.1 billion from fiscal 2008, according to a new revenue forecast released today by the Foundation.

At the request of the House Speaker and House Ways and Means Chair, MTF President Michael Widmer made a presentation for the full House of Representatives on the state's large and growing deficits.

The attached budget summary shows fiscal 2009 spending after the Governor's first round of "9C' cuts of $708 million and a savings of $100 million by extending from 2023 to 2025 the funding of the state's unfunded pension liabilities.  With these reductions, fiscal 2009 spending increased by 1…

The global economic recession will lead to a large decline in state tax revenues in fiscal 2009 and 2010, according to a forecast released today by the Massachusetts Taxpayers Foundation.