MTF President McAnneny shared a presentation with the Senate Revenue Working Group about the state’s revenue outlook and the road to recovery. Entitled "A Reality Check on Revenues and Recovery," the presentation argued that now is not the time to...

MTF President Eileen McAnneny's remarks at MTF's 87th Annual Meeting focused on the theme, “The Pandemic, Presidential Elections and Public Unrest.” "This captures the essence of this year," said McAnneny. "We have all been affected by&nbsp...

On June 19, Governor Baker filed H. 4806, a one month, $5.25 billion spending authorization to keep the government operational through July 31 that the legislature has since enacted. In this interim budget, the guidance indicates that for each...

MTF recently downgraded its FY 2021 tax revenue forecast to a loss of $6 billion, representing a nearly 20 percent decline from the $31.15 billion consensus benchmark. At 20 percent, the revised forecast places Massachusetts towards the...

FY 2021 tax revenues are projected to fall by $6 billion or 19.3 percent from the January 2020 benchmark. Massive layoffs push the unemployment rate to nearly 22 percent in Q4 FY 2020, causing withholding taxes to decline by $1.9 billion. Shutting...

MTF has revised its FY 2021 tax revenue forecast to include the impact of the COVID-19 pandemic. We project a decline of $4.4 billion or 14.1% from the January 2020 benchmark. The forecast assumes new virus cases peak in April, abate in June, and...

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...

In late June, the Massachusetts Taxpayers Foundation published a seven-page analysis that projected the state could wind up with a discretionary surplus from fiscal 2021 of between $1.13 billion and $1.48 billion after accounting for an automatic...

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...