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- April 28 2016This week, the House completed its debate of the FY 2017 budget. Over the course of three days, the House added $59.5 million in new budget spending and 91 new policy sections to the budget plan released from the House Ways and Means Committee (HWM) earlier in the Month.
- April 14 2016
When measured against three key metrics of a fiscally responsible spending plan, the House Ways and Means (HWM) budget get good grades. Similar to the Governor’s budget in several key respects, the HWM budget spends $70 million less.
- April 12 2016The House Committee on Ways and Means (HWM) is expected to release its budget on Wednesday, April 13th. This brief poses three important questions to consider when assessing how this proposal would impact the long-term fiscal health of Commonwealth. This brief also identifies several of the Governor’s budget proposals that could be adopted by HWM to help balance the budget
- April 11 2016
MassHealth, the state’s Medicaid program, makes up 39 percent of spending in Governor Baker’s FY 2017 budget proposal – by far the single largest area of spending. This brief examines MassHealth spending in the Governor’s budget, strategies employed to control cost and other notable elements of his proposal.
- March 8 2016
Last fall, the Massachusetts Taxpayers Foundation released a Stabilization Fund report that drew attention to the risks the state runs by failing to rebuild “rainy day” reserves during times of economic recovery. This companion brief explores how reliance on capital gains tax revenues in the operating budget both increases the dangers posed by a fiscal crisis and weakens our ability to respond to one.
- January 27 2016Today, Governor Baker released his FY 2017 budget recommendations. His House 2 proposal recommends $39.55 billion in line item spending, an increase of $1.22 billion (3.2%) over FY 2016 projected spending. Of this $1.22 billion increase, $739.3 million goes to support increases in MassHealth.
- January 14 2016Today, the Executive Office of Administration & Finance (ANF) and the House and Senate Committees on Ways and Means announced that the FY 2017 state budget will be built on $26.860 billion in tax revenues. This consensus figure, which assumes 4.3% growth over an updated FY 2016 tax benchmark of $25.751 billion, is the first milestone in the FY 2017 budget process.
- December 16 2015
Tax revenues will grow by $980 million, or 3.8 percent, to $26.69 billion in fiscal 2017, slower than the 4.6 percent annual average over the past five years and below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.
Eileen McAnneny, president of MTF, presented the Foundation’s economic and revenue forecast to members of the House and Senate Ways and Means Committees and the Secretary of Administration and Finance at their annual consensus revenue hearing at the State House.
“In a time of heightened economic uncertainty, caution is the only course. This entails replenishing the stabilization fund and balancing the budget without the use of one-time revenues.”