Related to Budget
- Policy Areas
- Policy Area
Displaying 21-30 of 442
Dec 10, 2023
News Item
Dec 10, 2023
News Item
Analysts with the Massachusetts Taxpayers Foundation believe the hiring spree in the wake of the COVID-19 pandemic will slow, as will wage and salary growth, contributing to the sluggish withholding tax revenues.MTF and several other economic experts on Monday advised officials to reduce their…
News Item
Dec 05, 2023
News Item
Dec 05, 2023
News Item
Massachusetts tax revenues miss November target by 10.9 percent, now trailing fiscal 2024 projection by $627 million
State revenues including surtax collections need to increase 5.7 percent over the fiscal 2023 total to hit the fiscal 2024 benchmark, according to Doug Howgate, president of the Massachusetts Taxpayers Foundation. Five months in, the growth so far has been only a single percentage point, well below…
News Item
Dec 04, 2023
Publication
Dec 04, 2023
Publication
Tax revenues for Fiscal Year (FY) 2024 and FY 2025 settle into a post-COVID pattern of lower growth as the economy slows, impacts from migration and an aging population emerge (Appendix A), and tax reforms take effect. Excluding revenues related to the four percent surtax on income over $1 million…
Publication
Dec 04, 2023
News Item
Dec 04, 2023
News Item
That’s actually a conservative number. According to revenue forecasts prepared by the nonpartisan Massachusetts Taxpayers Foundation, when excluding the surtax takings, the state will end the fiscal year close to $880 million shy of its own revenue predictions.
News Item
Nov 29, 2023
Publication
Nov 29, 2023
Publication
Governor Healey filed her administration’s FY 2023 closeout supplemental budget on September 13th, and versions of the spending bill were passed by the House and Senate on November 8th and 14th, respectively. While the House and Senate bills largely reflect shared spending that is necessary to…
Publication
Oct 31, 2023
Publication
Oct 31, 2023
Publication
The Fiscal Year (FY) 2024 budget was signed into law on August 9th, but four months into the new fiscal year, work remains for administrative and legislative budget writers to close the books on FY 2023. This work – typically marked by the passage of a closeout supplemental budget – is completed…
Publication
Aug 09, 2023
Publication
Aug 09, 2023
Publication
On August 9th, Governor Healey signed the Fiscal Year (FY) 2024 budget; sending back $272 million in gross spending vetoes ($205 million net), amending 8 outside policy sections, and vetoing one policy section. The Governor’s vetoes eliminate the budget’s reliance on $205 million in one-time…
Publication
Jul 31, 2023
Publication
Jul 31, 2023
Publication
The House and Senate are set to enact a Fiscal Year (FY) 2024 budget, totaling $56.2 billion. The conference committee report was filed on July 30th, one month after the start of the new fiscal year. This year, separate tax bill negotiations, the new income surtax, and an uncertain FY 2023 revenue…
Publication
Jul 24, 2023
News Item
Jul 24, 2023
News Item
Three years ago, deliberations on the fiscal year 2021 budget stretched into December while state government grappled with pandemic upheaval. But other than that outlier, overdue budget talks until this year had not stretched past July 23 in more than two decades, according to research from the…
News Item
Jul 22, 2023
News Item
Jul 22, 2023
News Item
Massachusetts lawmakers poised to enter last week of July without a deal on overdue FY24 state budget
The longer the state goes without a plan in place, the more it impacts the ability to implement new programs or expand existing ones, said Doug Howgate, president of the Massachusetts Taxpayers Foundation and former senior policy advisor to Senate President Karen Spilka.
“There’s a whole lot that…
News Item