June 19, 2020
PUBLIC FINANCE > Budget > FY 2021

Adams Sets First Month's Budget With Fiscal Restraint The Hope

Jeff Snoonian ,

iBerkshires.com

As recently as late May, the watchdog group Massachusetts Taxpayers Foundation predicted the state could lose up to $6 billion in tax revenue for fiscal 2021. Mass.gov lists the original benchmark for tax revenue for FY 2020 at slightly more than $30 billion. This would represent about a 20 percent drop year to year. That number is worse than the devastating financial crisis at the end of the last decade when losses hit 10-15 percent.