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FY 2009 Budget Summary

abagley — Wed, 31 Dec 2008 11:48:33 -0600

The attached budget summary shows fiscal 2009 spending after the Governor's first round of "9C' cuts of $708 million and a savings of $100 million by extending from 2023 to 2025 the funding of the state's unfunded pension liabilities. With these reductions, fiscal 2009 spending increased by 1.6 percent over 2008.

MTF Forecast: Dramatic Drop in Revenues in Fiscal 2009 and 2010

abagley — Mon, 15 Dec 2008 14:09:49 -0600

The global economic recession will lead to a large decline in state tax revenues in fiscal 2009 and 2010, according to a forecast released today by the Massachusetts Taxpayers Foundation.

Economic Impacts of Eliminating the Massachusetts State Income Tax

abagley — Wed, 22 Oct 2008 15:09:48 -0500

This report was prepared by: Global Insight, Inc.

Question 1 Proponents Inflate State Spending

abagley — Wed, 15 Oct 2008 10:48:06 -0500

In order to try to minimize the enormous consequences of Question 1, the proponents argue incorrectly that total state spending is $47 billion when, as the Foundation has shown, the correct number is approximately $31.8 billion.

Foundation Releases Major Report on Wide-Ranging Consequences of Question 1 to Repeal the Income Tax

abagley — Mon, 06 Oct 2008 11:27:15 -0500

Find Another Way to Send a Message

abagley — Mon, 06 Oct 2008 11:30:08 -0500

An upcoming analysis by the Massachusetts Taxpayers Foundation shows that if one were to preserve the 2008 level of spending for Medicaid, health reform, state aid to municipalities, and debt service, then one would have to eliminate every other program of state government - from prisons, courts, and State Police to funding for higher education and the elaborate network of services for the elderly

Letter from 23 Business Groups to House Speaker DiMasi and Senate President Murray

abagley — Wed, 23 Jul 2008 15:40:32 -0500

On behalf of a broad group of business organizations and health plans committed to ensuring access to quality and affordable health care in the Commonwealth, we are writing to express our strong opposition to the provisions imposing new assessments and taxes to fund the state's Health Care Reform Law.

MTF Warning: Rush to $2.3 Billion Turnpike Bailout Poses Large Risk to State Finances

abagley — Mon, 21 Jul 2008 12:07:26 -0500

MTF Letter to State Senate

The Commonwealth is going on this debt binge at the very moment that the floor may drop out of our finances. We are not risking a credit downgrade, we are virtually inviting it.

Bailing out the Turnpike with no accompanying reforms, no transparency, and no comprehensive plan to address its underlying problems will be remembered for years as the other bookend to the Big Dig fiasco.

MTF Calls For Substantial Spending Cuts Now To Avoid Deeper Cuts Later

abagley — Thu, 10 Jul 2008 10:40:11 -0500

Warning of a fiscal meltdown, the Massachusetts Taxpayers Foundation called on Governor Patrick and legislative leaders to cut several hundred million dollars from the fiscal 2009 budget which the Legislature approved and sent to the Governor last week.

Budget Conference Committee: Fiscal Perils Ahead

abagley — Thu, 10 Jul 2008 11:02:32 -0500

The House-Senate conference committee deliberating the fiscal 2009 state budget is facing a potential billion-dollar shortfall which threatens to deplete almost half of the Commonwealth's reserves, leaving the state in a precarious position should an economic downturn hit.

State Faces Large Deficits in Both Fiscal 2008 and 2009: Threatens Rapid Depletion of State’s Reserves

dlind — Fri, 20 Jun 2008 08:35:56 -0500

The state is facing a $500 million deficit in fiscal 2008 and the recently passed House budget for fiscal 2009 is at least $1 billion out of balance, creating a situation in which more than half of the state's reserves could be depleted in the next year without even accounting for a recession.

MTF Revenue Forecast: Reasonable Growth in 2008 but Small Rise in 2009

dlind — Thu, 05 Jun 2008 08:37:49 -0500

Tax revenues will grow somewhat better than expected in fiscal 2008 but increase only marginally in 2009, according to a forecast released today by the Massachusetts Taxpayers Foundation.

Budget Conference Committee: Limiting the Use of Reserves

dlind — Thu, 05 Jun 2008 08:39:15 -0500

"How long will the luck hold?

For the past three fiscal years the Legislature has passed budgets which depended on reserves to achieve balance. In each case tax revenues came in better than forecast, largely because of capital gains, eliminating the need to actually deplete the reserves.

Final House Budget Straining at the Seams

dlind — Thu, 05 Jun 2008 08:40:58 -0500

"The fiscal 2008 state budget debate turns to the Senate this week at a particularly delicate time for state finances.

Governor Patrick Proposes Tight 2008 Budget

dlind — Thu, 05 Jun 2008 08:44:15 -0500

Governor Patrick's fiscal 2008 state budget includes a proposed spending increase of 3.8 percent. Tables 1 and 2 summarize his recommendations by category and track spending from 2001 to 2008. After adjusting for inflation, proposed 2008 spending is less than 2001 for almost all categories except for Medicaid and employee benefits.

House Budget Protects Massachusetts Economy

dlind — Thu, 05 Jun 2008 08:43:07 -0500

"The House Ways and Means fiscal 2008 budget, which will be debated by the full House beginning April 23, has a bottom line that is very similar to the Governor's budget proposal but rejects most of his specific initiatives.

MTF Forecast: Sharp Slowdown in Growth of Tax Revenues

dlind — Thu, 05 Jun 2008 08:46:56 -0500

Tax revenues will grow much more slowly in 2007 and 2008 than they did the past two years, according to a forecast released today by the Massachusetts Taxpayers Foundation.

The Long-Term Mismatch Between Available Resources and Important State Priorities: A Five-Year Fiscal Analysis

dlind — Wed, 04 Jun 2008 12:20:23 -0500

In its annual review of state finances, the Foundation cautions that while the Commonwealth is in its third year of financial recovery, the state's leaders now face the challenge of choosing from a long list of competing funding priorities that far exceed the state's ongoing fiscal capacity.

2007 State Budget: Fanning the Expansionary Flames

dlind — Thu, 05 Jun 2008 08:56:33 -0500

In a new analysis of the Commonwealth's financial situation, the Foundation focuses on a mounting appetite for new initiatives that threatens to overwhelm the state's ongoing fiscal capacity.

State Budget '07: Soaring Appetites, Critical Choices

dlind — Wed, 04 Jun 2008 12:26:26 -0500