View more in Public Finance
- March 13 2015
The FY 2016 budget has been hampered by a large structural gap that is the result of $1.2 billion in one-time funds used in FY 2015 and $1.5 billion in spending growth for non-discretionary accounts. That $2.7 billion total shortfall is offset by tax revenue growth of $872 million, leaving a $1.8 billion deficit.
- January 22 2015
Tax revenues will grow by $1.1 billion, or 4.5 percent, to $25.5 billion in fiscal 2016, continuing the trend of modest growth yet still below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.
“It’s alarming that even with employment gains and a healthier economic climate, the state faces a monumental budget shortfall in fiscal 2015 and substantial challenges in 2016,” Bagley said.
- March 2 2014Rationale for Voting Against the Recommendation to Amend the Massachusetts Constitution to Implement a Graduated Income TaxRepresenting the Foundation on the Tax Fairness Commission, President Michael J. Widmer voted against the proposal to implement a graduated income tax in Massachusetts.
- January 7 2014The Foundation released its 43rd annual report on municipal finances concluding that despite a modest rebound in revenues, municipalities find themselves in a long-term budget squeeze because the costs for pensions, employee and retiree health care, and debt service are rising faster than revenues.
- December 11 2013
Tax revenues will grow by $1.1 billion, or 4.7 percent, to $24.37 billion in fiscal 2015, continuing the trend of modest growth yet still below that of previous economic recoveries, according to a new forecast released today by the Massachusetts Taxpayers Foundation.
“Despite an improving economic picture, the 2015 budget will challenge lawmakers once again,” Widmer said.
- October 31 2013Testimony of Michael J. Widmer President, Massachusetts Taxpayers Foundation Before the Joint Committee on Public ServiceThe Foundation testified on the enormous $46 billion in unfunded retiree health care liabilities facing Massachusetts state and municipal governments.