McAnney began by explaining the process that the state goes through to identify the amount of money available to spend. She explains, “they begin the budget process with a consensus revenue hearing; and really the purpose is to figure out the dollar amount that the state has to spend. They do that in January and so a lot has changed in those six months.
By Michael Norton, State House News Service / The Berkshire Eagle
The foundation said fiscal 2016 tax revenues are likely to exceed fiscal 2015 tax revenues by just 2.6 percent. Looking ahead, lawmakers should downgrade their tax revenue growth projection for fiscal 2017 to 3.8 percent, which would reduce available revenues by $521 million, according to the MTF.
“The give-and-take that normally characterizes the end of the session will be on steroids,” said Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation and a two-decade veteran of Beacon Hill.