Displaying 1–10 of 11
Jun 30, 2020
PUBLIC FINANCE > Budget > FY 2021
On Friday, 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...
PUBLIC FINANCE > Budget > FY 2021
Jun 15, 2020
TRANSPORTATION
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...
TRANSPORTATION
May 28, 2020
PUBLIC FINANCE > Budget > FY 2021
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...
PUBLIC FINANCE > Budget > FY 2021
May 15, 2020
PUBLIC FINANCE > Budget > FY 2021
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...
PUBLIC FINANCE > Budget > FY 2021
May 05, 2020
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...
May 01, 2020
PUBLIC FINANCE > Budget > FY 2021
In a letter to Senate Ways and Means Chairmen Michael Rodrigues, Aaron Michlewitz and Administration and Finance Secretary Michael Heffernan, the chief fiscal 2021 budget planners, MTF President Eileen McAnneny outlined the array of options available...
PUBLIC FINANCE > Budget > FY 2021
Apr 16, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF’s new analysis highlights the implications of our revised forecast on the MBTA, the Massachusetts School Building Authority (MSBA), and other purposes supported by dedicated tax revenue. We estimate that compared to the original consensus...
PUBLIC FINANCE > Budget > FY 2021
Apr 16, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF has revised its FY 2021 tax revenue forecast to include the impact of the COVID-19 pandemic. We project a decline of $4.4 billion or 14.1% from the January 2020 benchmark. The forecast assumes new virus cases peak in April, abate in June, and...
PUBLIC FINANCE > Budget > FY 2021
Mar 30, 2020
PUBLIC FINANCE > Budget > FY 2020
This preliminary report addresses some of the economic impacts from the most recent data and explores issues that will shape the scale and duration of this global pandemic. While this report is focused primarily on the national economic impacts,...
PUBLIC FINANCE > Budget > FY 2020
Mar 27, 2020
PUBLIC FINANCE > Budget > FY 2020
Massachusetts Governor Charlie Baker, Senate President Karen Spilka, and Speaker Robert DeLeo announced the corresponding change for the state tax filing deadline on March 27, 2020.The policy change impacts the Commonwealth of Massachusetts very...
PUBLIC FINANCE > Budget > FY 2020