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MTF Forecast: Weakening Jobs Picture Slows Revenue Growth in Fiscal 2012 and 2013

abagley — Mon, 12 Dec 2011 13:26:22 -0600

Fiscal 2013 tax revenues will grow by $822 million, or 3.9 percent, to $22 billion, less than half the rate of expansion in fiscal 2011, according to a new forecast released today by the Massachusetts Taxpayers Foundation.

“The small growth in tax revenues will put great strains on the fiscal 2013 budget with increases in nondiscretionary spending outpacing the additional revenues available,” Widmer said.

MTF Forecast: Revenue Growth in FY11 and FY12, But State Faces Large Structural Deficit in 2012

abagley — Tue, 14 Dec 2010 14:00:30 -0600

Fiscal 2012 tax revenues will grow by $923 million or 4.7 percent to reach a total of $20.56 billion, according to a new forecast released today by the Massachusetts Taxpayers Foundation. The Foundation projects tax collections of $19.63 billion in fiscal 2011, an increase of $554 million over the current consensus forecast, and approximately $1.1 billion or 5.9 percent over tax collections in 2010.

“Despite almost a billion dollars in revenue growth, the state faces a fiscal 2012 shortfall of approximately $2 billion with no federal stimulus dollars and limited state reserves,” Mr. Widmer said. “The 2012 budget will require yet another round of cuts in local aid, human services, higher education, and almost all other state programs.”

MTF Forecast: Limited Revenue Growth in Fiscal 2011; Large Structural Deficit Remains

abagley — Wed, 16 Dec 2009 14:30:59 -0600

State tax revenues for fiscal 2011 will total $18.953 billion, a $674 million increase over the fiscal 2010 revised benchmark, according to a new forecast today by the Massachusetts Taxpayers Foundation.

MTF President Michael J. Widmer, who presented the forecast at the annual consensus revenue hearing, said, "Even with this revenue growth, the state faces an estimated $3 billion structural deficit in fiscal 2011."

MTF Forecast: Fiscal 2010 Revenues $600 Million below Consensus

abagley — Fri, 09 Oct 2009 16:07:32 -0500

President Michael J. Widmer presented MTF's revised fiscal 2010 revenue forecast to the Senate and House Ways and Means Committee.

New Revenue Forecast

abagley — Tue, 05 May 2009 14:17:16 -0500

State tax revenues likely to collapse an unprecedented $3.1 billion from fiscal 2008, according to a new revenue forecast released today by the Foundation.

MTF Forecast: Dramatic Drop in Revenues in Fiscal 2009 and 2010

abagley — Mon, 15 Dec 2008 14:09:49 -0600

The global economic recession will lead to a large decline in state tax revenues in fiscal 2009 and 2010, according to a forecast released today by the Massachusetts Taxpayers Foundation.

MTF Revenue Forecast: Reasonable Growth in 2008 but Small Rise in 2009

dlind — Thu, 05 Jun 2008 08:37:49 -0500

Tax revenues will grow somewhat better than expected in fiscal 2008 but increase only marginally in 2009, according to a forecast released today by the Massachusetts Taxpayers Foundation.

MTF Forecast: Sharp Slowdown in Growth of Tax Revenues

dlind — Thu, 05 Jun 2008 08:46:56 -0500

Tax revenues will grow much more slowly in 2007 and 2008 than they did the past two years, according to a forecast released today by the Massachusetts Taxpayers Foundation.

MTF Forecast: Slowing Revenue Growth in 2006 and 2007

dlind — Thu, 05 Jun 2008 09:07:04 -0500

Tax revenues will increase roughly five percent per year in 2006 and 2007-down from the almost seven percent average pace of the last two years-as the state's workforce continues to expand at less than half the national rate, according to a forecast released today by the Massachusetts Taxpayers Foundation.

MTF Forecast: Revenue Shortfall in 2003, Weak Growth in 2004

dlind — Thu, 05 Jun 2008 09:55:51 -0500

Because of the continuing weakness of the state and national economy -- and the uncertainty about future economic growth -- state tax revenues will fall short in fiscal 2003 and grow at an anemic pace in 2004, according to a forecast presented by MTF to members of the House and Senate Ways and Means Committees at their annual revenue hearing.