In The News: Budget

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Economists stumped by strong state economy, weak state revenues

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Aug 13 2016

By Gerry Tuoti, Arlington Wicked Local

A month into fiscal 2017, some economists are keeping an eye out for signs of a funding crisis like the one that hit Massachusetts this past spring. “We will monitor to see if some sort of trend is developing,” said Andy Bagley, vice president of policy and research for the nonprofit Massachusetts Taxpayers Foundation.

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Rep calls chaotic finish of legislative session 'typical Beacon Hill'

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Aug 12 2016

By Michael Norton, State House News Service / MetroWest Daily News

According to the Massachusetts Taxpayers Foundation, the Legislature over three sessions in late July reversed $231.6 million in spending vetoes and let about $35.5 million in spending reductions stand. The foundation estimates there's a $240 million gap in the new $39.259 billion budget.
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Elder-abuse bill's sponsor not hopeful

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Aug 10 2016

By Katie Lannan, State House News Service / Sentinel & Enterprise

The reduction was among about 108 of Baker's vetoes not overridden by the Legislature. In a series of override votes taken over three weekend days at the end of last month, the Legislature reversed $231.6 million in spending vetoes and let about $35.5 million in spending reductions stand, according to the Massachusetts Taxpayers Foundation.
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First month of FY17 ends in the black

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Aug 4 2016

By Matt Murphy, State House News Service / Sentinel and Enterprise

On the spending side, the Massachusetts Taxpayers Foundation on Wednesday estimated a $240 million gap in the new budget, largely due to spending veto overrides in late July.
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Overrides quickly punch hole in new state budget, analysis says

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Aug 3 2016

By Michael Norton, State House News Service / The Berkshire Eagle

Instead, with the funding restorations, MTF estimates a $240 million gap in the one-month-old $39.259 billion budget, which itself calls for the administration to hold back on $200 million in spending in order to create "reversions." "Only one month into the fiscal year, any estimates of a budget gap are very fluid and subject to change," MTF wrote in an analysis of budget vetoes Wednesday. "What is certain, however, is that another challenging fiscal year lies ahead and that extent of this year's spending overrides increases the likelihood of midyear budget cuts."
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Veto debate underscores differences on balanced state budget

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Jul 14 2016

By Andy Metzger, State House News Service / The Telegram

The Massachusetts Taxpayers Foundation on Thursday said fiscal 2017 state spending will rise 2.4 percent if Baker's requested spending for "known deficiencies" in the Legislature's budget is included in the calculation. The foundation said spending growth is "low compared to prior years, but necessary" since expectations of state revenues have been significantly revised. "The state is likely to continue to face fiscal challenges in FY 2017, but a crucial first step toward meeting those challenges has been the Legislature and Administration's work to reduce budget spending growth to less than assumed tax revenue growth. It would be a major setback if veto overrides undid much of this work," the foundation wrote in a budget bulletin.
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The Mass. fiscal clash that lies ahead

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Jul 8 2016

By Scot Lehigh, The Boston Globe

Further, the Massachusetts Taxpayers Foundation notes that revenue growth since the Great Recession hasn’t matched the bounce-back after the much milder recession of 2001. A back-of-envelope comparison: From fiscal year 2004 to 2008, state revenue grew by an average of 6.9 percent a year; by contrast, from FY 2012 to 2016, the average annual rate of increase was 4.3 percent. The difference equals about $650 million a year.
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Editorial: Bit of budget roulette

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Jul 5 2016

The Boston Herald

That approach risks leaving the state dangerously exposed. Indeed, the Massachusetts Taxpayers Foundation suggests the budget fixes “still leave the state in a precarious financial position.”
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THE SUNDAY NOTEBOOK

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Jul 3 2016

Sentinel & Enterprise

The Massachusetts Taxpayers Foundation, which has been pleading with lawmakers to move faster to bulk up the "rainy day" account before the next recession hits, said the budget deal would leave Massachusetts in a "precarious financial position," given that caseload projections were already "aggressively low" and family homelessness and indigent legal defense accounts were most likely underfunded by $80 million.
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