Tax collections that lawmakers had hoped would propel big investments in education and transportation this year are now projected to fall by $4.4 billion, or 14.1 percent below the benchmark that top budget officials agreed to back in January, according to an analysis released Tuesday by the…

Massachusetts Taxpayers Foundation President Eileen McAnneny said unemployment in the second quarter of 2020 could push toward 18 percent, with 570,000 jobs lost and a $4.4 billion, or 14.1%, decline in projected revenue for the next fiscal year. McAnneny said Massachusetts could recover 410,000…

Massachusetts Taxpayers Foundation President Eileen McAnneny said the state could see a decline of billions of dollars in revenue and massive layoffs as high as 570,000 that could push the unemployment rate to nearly 18%. https://apnews.com/6a947e83b95d51525c202a5138c898c9

MTF revised its FY 2021 tax revenue forecast and presented its findings at the April 14 Virtual Roundtable Discussion on the Impact of COVID-19 on the Commonwealth's Fiscal Health and Economy, hosted by the Senate and House Chairs of Ways & Means and the Secretary of Administration &…

The Massachusetts Taxpayers Foundation estimated the revenue shortfall in the current fiscal year will be between $300 million and $500 million, while the Center for State Policy Analysis pegged it at between $500 million and $750 million. Both organizations said the shortfall could exceed $2…

This analysis describes the steps taken by the governor to balance the budget compared to MTF’s initial projection of an $880 million gap between revenue and spending in fiscal 2021. It also describes ten tough choices confronting legislators as they develop a budget for the upcoming fiscal year.

Governor Charlie Baker published his budget recommendation for state fiscal year 2021 on January 22, 2020. The plan, also known as House 2 (H.2), is the sixth budget proposal developed by Gov. Baker and the second since his re-election in November 2018. This policy brief summarizes some of the…

Tax revenues will increase by approximately $615 million, or 2.0 percent, to $31.06 billion in fiscal 2021 according to a new forecast released today by the Massachusetts Taxpayers Foundation at the state’s annual consensus revenue hearing. The Foundation estimates capital gains tax revenues…