Governor Romney has proposed minimal spending growth in his state budget for fiscal 2006, reflecting the reality that the Commonwealth will face tight budgets for the foreseeable future. However, fiscal balance in the proposed budget-which would also cut the income tax by $450 million over two…

Over the next two fiscal years, state tax revenues will rise between four and five percent annually as a result of gradually improving economic conditions, according to the Foundation's new forecast. However, despite the improved tax outlook, the state is still struggling with a significant…

As part of the Academy for New State Legislators held at UMass Amherst, MTF President Michael J. Widmer provided incoming representatives and senators with an overview of key state and local financial issues. The presentation traces the impacts of the Commonwealth's ongoing fiscal crisis and…

In this updated analysis, the Foundation concludes that despite the improving economy and declarations of budget surpluses, the state is still confronting a large and growing structural deficit. Even with tax revenues on track to exceed budget benchmarks again this year, the state is still relying…

The crisis in the state's finances has entered a new and challenging phase. While improved revenues have led some to conclude that the crisis is over, the reality is much less certain.

The 2005 budget moved one step closer to its final form last week with Governor Romney's exercise of his veto power under the Massachusetts Constitution. With the Legislature scheduled to conclude formal sessions for the year before the end of July, lawmakers have less than a month to override-by…

While the strong revenue performance of recent months is welcome news, the state's budgetary difficulties are far from over. Even with the improving revenue picture, 2005 revenues will barely be sufficient to support ongoing spending in state programs.

Reflecting the reality of the state's ongoing fiscal crisis, Governor Romney's 2005 budget proposes the fourth straight year of spending cuts. While education is the budget's primary area of emphasis, the modest increases in local school aid and higher education funding recommended for 2005 do not…

In its annual review of state spending, the Taxpayers Foundation concludes that the fiscal 2005 state budget will require a fourth year of significant spending cuts to help close a $1.1 to $1.4 billion budget gap. The report, State Budget '04: The Long Road Back, warns that despite the improving…

At the annual consensus revenue hearing on Beacon Hill, the Massachusetts Taxpayers Foundation predicted state tax revenue growth of slightly more than four percent in both fiscal 2004 and 2005, based on conservative assumptions about the pace of growth in both the national and state economies. The…