MTF President McAnneny shared a presentation with the Senate Revenue Working Group about the state’s revenue outlook and the road to recovery. Entitled "A Reality Check on Revenues and Recovery," the presentation argued that now is not the time to...

MTF President Eileen McAnneny testified last week at the Economic Roundtable convened by budget writers to help them determine the size of the revenue shortfall for FY2021. The state has been operating on an interim budget since the start of the...

MTF’s President Eileen McAnneny said, “while our revised tax revenue forecast has improved since MTF’s April projection, the improvement is due largely to unprecedented levels of federal financial assistance.  Numerous headwinds could slow the...

This report, which examines the MBTA’s sources and planned uses of capital funding, finds “an impending chasm” between the costs to maintain and modernize the Authority’s existing infrastructure and available sources to pay for these investments. At...

The intent of the emergency regulation, this proposed regulation and the related Technical Information Release is to maintain the tax treatment of income received by employees who previously worked in Massachusetts, but due to pandemic-caused...

On June 19, Governor Baker filed H. 4806, a one month, $5.25 billion spending authorization to keep the government operational through July 31 that the legislature has since enacted. In this interim budget, the guidance indicates that for each...

Driven by operating costs that were already growing and the pandemic’s deep impacts on revenues, a Massachusetts Bay Transit Authority (hereinafter the MBTA or the T) operating budget that was in balance in FY 19 is now moving backward toward a...

MTF recently downgraded its FY 2021 tax revenue forecast to a loss of $6 billion, representing a nearly 20 percent decline from the $31.15 billion consensus benchmark. At 20 percent, the revised forecast places Massachusetts towards the...

FY 2021 tax revenues are projected to fall by $6 billion or 19.3 percent from the January 2020 benchmark. Massive layoffs push the unemployment rate to nearly 22 percent in Q4 FY 2020, causing withholding taxes to decline by $1.9 billion. Shutting...

On April 28, Governor Baker announced the formation of a 19-member Advisory Board to determine the best ways to open the economy. Chaired by Lt. Governor Polito and Secretary of Housing and Economic Development Michael Kennealy, along with...