In The News: Budget

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The State We’re In: Massachusetts Taxpayers Foundation’s Eileen McAnneny

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Feb 5 2016

WGBY 57

Eileen McAnneny, President of the non-partisan Massachusetts Taxpayers Foundation, discusses Governor Baker’s proposed Fiscal Year 2017 state budget and the current and future prospects for the Commonwealth’s economy.
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Gov. Charlie Baker's proposed $39.5B budget shows 3.5 percent increase, but no tax or fee hikes

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Jan 27 2016

By Shira Schoenberg, MassLive

Eileen McAnneny, president of the fiscally conservative Massachusetts Taxpayers Foundation, commended Baker for making progress toward reducing the structural deficit, although she said she would have liked to see him be even more aggressive with funding the rainy day fund. "Where there is spending increases, it's in things like solving the opioid addiction crisis or local aid or charter schools or some of the other policy priorities that he outlined," McAnneny said.
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Baker’s $39.6B Budget Invests In Education And Opioid Abuse

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Jan 27 2016

By Jim Levulis, WAMC Public Radio

But, the Massachusetts Taxpayers Foundation says the fiscal 2017 budget deficit could reach $900 million, according to President Eileen McAnneny. “Spending has outpaced revenue.” McAnneny said. “Our revenue growth has been healthy, about $1.1 billion year over year, but some needs and programs – particularly MassHealth – that growth is outpacing revenue growth.”
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Baker diverts $150m from rainy day fund

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Jan 27 2016

By Bruce Mohl, CommonWealth Magazine

CommonWealth reported in September that the amount of money in the state’s rainy day fund had fallen by 28 percent over the last four years even as state tax revenues grew 17 percent. The Massachusetts Taxpayers Foundation issued a report in November warning that the rainy day fund had a balance equal to 3 percent of state spending, which was comparable to low points following the 2002 and 2008 recessions.
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Gov. Baker's 2017 budget to increase aid to cities, towns

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Jan 27 2016

By Christian Wade, Gloucester Times

While the state expects more than $1.1 billion in additional tax revenues in the coming fiscal year, the Massachusetts Taxpayers Foundation points out that more than half is already spoken for — by pensions, reserves and other spending priorities.
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Baker To File 2017 Budget Blueprint With Legislature

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Jan 27 2016

By Bob Salsberg, AP / WBZ

he Massachusetts Taxpayers Foundation said in a briefing paper this week that the state faces a fiscal 2017 structural deficit of between $700 million and $900 million. “The state appears to have entered a new fiscal pattern since the 2008 fiscal crisis marked by slow to modest revenue growth that has not kept pace with increased state spending,” the foundation, a business-backed organization, said in its report.
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Baker budget vows lots of level funding

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Jan 27 2016

By Matt Murphy, State House News Service / The Lowell Sun

According to the Massachusetts Taxpayers Foundation, the fiscal 2016 state budget relied on $629 million in one-time solutions to close a structural budget gap, including $300 million by diverting capital gains taxes earmarked for reserves to the general fund, $100 million from a corporate tax amnesty program and $116 million in deferred MassHealth expenses. The Massachusetts Taxpayers Foundation estimates another structural budget gap in fiscal 2017 of between $700 million and $900 million.
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Budget Watchdog Says Massachusetts Could Face $900 Million Shortfall

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Jan 26 2016

By Paul Tuthill, WAMC Public Radio

This morning, Eileen McAnneny, President of the business-backed Massachusetts Taxpayers Foundation, discussed the state’s fiscal health at a roundtable sponsored by the Springfield Regional Chamber of Commerce.
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With Baker set to file budget, Massachusetts finances seen as tight

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Jan 23 2016

By Bob Salsberg, AP / The Berkshire Eagle

But a recent analysis by the nonpartisan Massachusetts Taxpayers Foundation shows that much of that increase is already spoken for. By law, the state would be required to set aside $356 million in capital gains revenue for the rainy day fund; $197.2 million for the state's pension fund; $63.2 million for the Massachusetts School Building Authority; and $15.8 million for the MBTA.
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Gov. Baker gears up for State of Commonwealth address

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Jan 16 2016

AP / The Lowell Sun

The business-backed Massachusetts Taxpayers Foundation has forecast a slowdown in tax revenues in the 2017 fiscal year that begins July 1, with collections increasing by just 3.8 percent -- below the past five-year trend of 4.6 percent annual growth.
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