Publications: Budget

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  • 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.”

  • November 10 2015

    Troubling state budgetary practices have left the Commonwealth’s Stabilization Fund balance insufficient to meet the next fiscal downturn and immediate action is needed to increase and safeguard the fund for future use, according to a report released today by the Massachusetts Taxpayers Foundation (MTF).

  • July 23 2015
    Despite the vetoes, the 2016 budget bottom line remains virtually the same because there are both reduced appropriations and savings projections that are lower than originally anticipated.
  • June 2 2015
    Please find attached the Foundation’s analysis on the FY16 Senate Budget which was finalized last week.
  • June 2 2015

    In its fiscal 2016 budget, the Senate proposed increasing the state’s earned income tax credit (EITC), raising personal exemptions, and funding those measures by freezing the income tax rate at 5.15 percent with the goal of increasing the state’s personal income tax progressivity.

  • 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 25 2015
    In anticipation of the release of the Governor’s budget later this week, this briefing provides a status report on fiscal year 2016 and an overview of what we anticipate for fiscal year 2017.
  • 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.