In The News: Budget

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Gov. Baker expects battles over budget, energy

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Jan 6 2016

By Christian Wade, The Lawrence Eagle Tribune

This year's budget picture looks equally stark. The fiscal watchdog Massachusetts Taxpayers Foundation is projecting a $1 billion shortfall due to increased healthcare costs and the state’s reliance on one-time revenue.

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Gov. Baker Enjoys High Approval Rating Despite Challenges In First Year

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Dec 31 2015

By Jim Levulis, WAMC Public Radio

Dukakis, a Democrat, made those comments to WAMC during an event in North Adams in December. In response, the MassGOP called Dukakis’s claim faulty, pointing to the budget deficits left by Governor Patrick. A report from the Massachusetts Taxpayers Foundation in December warned of a budget gap of roughly $1 billion.
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‘Really hard choices’ ahead as state faces $1 billion budget shortfall

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Dec 23 2015

By Eric Levenson, The Boston Globe

Although the state could see tax revenue increases of about $1 billion, The Massachusetts Taxpayers Foundation says increasing health care costs and the reliance on one-time funds could mean that the state faces a significant shortfall come budget time.
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Mass. Budget Watchdog Warns Of Possible $1B Shortfall

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Dec 23 2015

WBUR

A fiscal watchdog group in Massachusetts is warning of a budget gap of up to $1 billion in the next fiscal year. Foundation President Eileen McAnneny told WBUR’s Newscast Unit that while the state has faced similar gaps before, its options — particularly in tapping into such one-time resources — are now limited.
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With A Possible $1 Billion Deficit Looming, Gov. Charlie Baker Faces An Interesting 2016

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Dec 23 2015

By Mike Deehan, WGBH

The Massachusetts Taxpayers Foundation estimates Baker and his budget writers will have to fix a structural deficit of between $800 million and $1 billion dollars when Fiscal Year 2017 starts in July. "We're facing a sizable budget gap and some of the ways we've used to close the budget in the recent past aren't on the table," Eileen McAnneny, the Taxpayer Foundation's president told WGBH News.
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Charlie Baker is a very popular work in progress

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Dec 23 2015

By Shirley Leung, The Boston Globe

“Sometimes you have to be willing to say no. That is a big part of governing,” said McAnneny, president of the Massachusetts Taxpayers Foundation, a fiscal watchdog group. “Everyone wants to be able to have signature projects. If you don’t have money, it makes governing less fun.”
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Watchdog says state may face $1 billion budget gap

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Dec 23 2015

By Joshua Miller, The Boston Globe

State officials are warning of tough spending decisions ahead, as a top Beacon Hill watchdog cautioned Tuesday that Massachusetts could face a $1 billion budget gap in the upcoming fiscal year. Though the economy and tax revenue continue to grow at a steady clip, the state faces a twofold challenge: ballooning costs for health care and other needs that are colliding with years of one-time fiscal gimmicks, the business-backed Massachusetts Taxpayers Foundation said.
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Editorial: Budget blues linger

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Dec 21 2015

The Boston Herald

The Massachusetts Taxpayers Foundation has projected 3.8 percent growth in tax revenue in the fiscal year that begins next July 1, or about $980 million more than the state is expected to collect this year. Other predictions have varied slightly.
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Massachusetts tax revenues expected to grow by around 4 percent in 2017, economists say

Dec 16 2015

By Shira Schoenberg, MassLive

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, urged lawmakers to balance the budget without using one-time revenues and to put more money into the state's rainy day fund, a reserve available in case of fiscal crisis. "These actions are vital to prepare us for the heightened challenges to economic growth that we face due to demographic shifts in Massachusetts and the numerous economic and geopolitical global risks that escalate each day," McAnneny said.
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Our view: The time to replenish rainy day fund is now 0

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Dec 2 2015

The Daily News

Between fiscal 2013 and fiscal 2015, while the state’s unemployment rate was dropping from 7.2 percent to 4.6 percent, the Legislature moved a “staggering” $2.2 billion from the rainy day fund to cover operating expenses, according to the MTF report. The MTF recommends transferring a minimum of 1 percent of tax revenues to the stabilization fund each year before budget talks begin, much like taxpayers are urged to set aside a portion of their paycheck for savings. The foundation also says the fund should have a balance of $2.5 billion.
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