In The News: Budget

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States can offer a lesson as GOP proposes deep cut taxes

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Jan 17 2017

By Christina A. Cassidy, The Boston Globe

The Massachusetts Taxpayers Foundation projects the state faces an $800 million structural deficit for the fiscal year starting July 1. Key issues include lower tax collections and an unexpected surge in Medicaid enrollment.
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State summaries: Two-thirds of states face budget challenges

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Jan 16 2017

AP / WNCN

Republican Gov. Charlie Baker projected a nearly $300 million shortfall in the state’s current $39 billion budget, prompting the state to give buyouts to about 900 state workers and trim agency spending by $100 million. The nonpartisan Massachusetts Taxpayers Foundation projects the state faces an $800 million structural deficit for the fiscal year starting July 1. Key issues include lower-than-anticipated tax collections and an unexpected surge in Medicaid enrollment, which state officials partly attribute to a drop in small business owners offering their employees insurance.
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Sunday Notebook: Baker's Budget

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Jan 15 2017

Sentinel & Enterprise News

After multiple years of having to play catch up when revenues don't meet expectations, Massachusetts Taxpayers Foundation President Eileen McAnneny might have hit the nail on the head when she said "it remains to be seen if these budget assumptions are conservative enough." The MTF, which has had a pretty good track record in this arena, predicted a 2.65 percent tax revenue growth during a hearing in December.
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Massachusetts officials see ‘modest’ tax revenue growth

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Jan 12 2017

AP / 22WWLP

The nonpartisan Massachusetts Taxpayers Foundation has called for a lower revenue growth estimate of 2.65 percent.
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Beacon Hill budget leaders agree on projected FY18 revenue growth

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Jan 12 2017

By Colin Young, State House News Service / WBJournal22WWLP

The Massachusetts Taxpayers Foundation on Thursday projected Massachusetts will face a structural deficit of more than $800 million in fiscal 2018. The business-backed budget watchdog group’s projection was the most conservative of those who offered testimony at December’s hearing – 2.65 percent revenue growth. “The decisions made to close that deficit in the coming months will influence whether or not the state can avoid a 4th consecutive year of midyear budget problems,” MTF said in a bulletin published late Thursday afternoon. “The assumption of 3.9 percent tax revenue growth — compared to 4.31 percent at this time last year — indicates a more conservative approach to budgeting, but given that tax revenue has grown by just 2.28 percent in FY 2016 and 2.34 percent to date in FY 2017, it remains to be seen if these budget assumptions are conservative enough.”
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What’s on Beacon Hill’s agenda?

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Jan 3 2017

By Joshua Miller, The Boston Globe

The new fiscal year, which begins in July will “highlight the continued mismatch between spending and revenues,” said Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation. She said the gap between projected revenue and spending just enough to maintain current services could approach $1 billion.
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Tiny Tax Break For Massachusetts Residents? Not This Year.

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Dec 26 2016

By Adam Frenier, New England Public Radio

The president of the Massachusetts Taxpayers Foundation, Eileen McAnneny, said the tax breaks approved 16 years ago are a long time in coming. She said the state counts too much on money from income tax. “A reduction can be costly and I think that’s one of the downsides to being so over-reliant on income tax,” McAnneny said. “Lawmakers and budget makers are being very conservative in their approach to this income tax reduction.”
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Hearing: State spending pivots on needs, affordability

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Dec 14 2016

By Colin Young, State House News Service / The Worcester Telegram

"Given that revenue growth that we're projecting for fiscal year 2018 are about 2.6 percent, so making sure that the capital budget doesn't grow at a higher rate than overall tax revenue growth I think is pretty important," Eileen McAnneny said. "I think their $70 million (increase) is in that ballpark." McAnneny on Tuesday also renewed MTF's call for "a rigorous review of the cost and value of projects" to be made public before any money is allocated in a capital plan, an annual review to "reestablish the timelines, costs, benefits, and value" of each project, and a detailed accounting of project expenditures from any state agency that receives capital funds.
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State panel will recommend $70 million increase in capital spending

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Dec 12 2016

By Colin Young, State House News Service / 22WWLP

At $2.64 billion, the fiscal 2017 debt service allocation is up $640 million — or 30 percent — over fiscal 2008, according to the Massachusetts Taxpayers Foundation
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Baker bites into earmarks with budget solve

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Dec 12 2016

By Andy Metzger, State House News Service / The Berkshire Eagle

The net savings from Baker's cuts to earmarks totaled $53 million because of revenue loss associated with some cuts, according to a Massachusetts Taxpayers Foundation analysis.
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