Displaying 21–30 of 108
Jun 19, 2020
PUBLIC FINANCE > Budget > FY 2021
The Massachusetts Taxpayers Foundation predicts a $6 billion drop in tax revenues for the state due in part to mandated business closures during the pandemic. ...
PUBLIC FINANCE > Budget > FY 2021
Jun 19, 2020
PUBLIC FINANCE > Budget > FY 2021
The Commonwealth has not formally revised its January 2020 consensus revenue forecast for fiscal 2020 and fiscal 2021 in light of the coronavirus-driven recession now underway, with a new forecast likely to emerge from fiscal 2021 budget...
PUBLIC FINANCE > Budget > FY 2021
Jun 19, 2020
PUBLIC FINANCE > Budget > FY 2021
“After the fiscal impact of COVID-19 … policymakers may need to modify the implementation schedule for this new law,” Massachusetts Taxpayers Foundation President Eileen McAnneny wrote to lawmakers in late April. “For example, lawmakers may...
PUBLIC FINANCE > Budget > FY 2021
Jun 19, 2020
PUBLIC FINANCE > Budget > FY 2021
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...
PUBLIC FINANCE > Budget > FY 2021
Jun 17, 2020
PUBLIC FINANCE > Budget > FY 2021
Eileen McAnneny, the president of the Massachusetts Taxpayers Foundation,a business-backed fiscal watchdog, said she understands generally where the money will go. “Having said that, I agree that there should have been more detail so that it is...
PUBLIC FINANCE > Budget > FY 2021
Jun 17, 2020
PUBLIC FINANCE > Budget > FY 2021
Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said the tight time frame – with only two weeks left before the June 30 end of the fiscal year – means it might make sense to bypass the multiple iterations that a budget typically...
PUBLIC FINANCE > Budget > FY 2021
Jun 16, 2020
PUBLIC FINANCE > Budget > FY 2021
 The Massachusetts Taxpayers Foundation said in May that the state could expect to collect as much as $6 billion less in tax revenue this year due to the COVID-19 pandemic. ...
PUBLIC FINANCE > Budget > FY 2021
Jun 16, 2020
TRANSPORTATION
The MBTA faces "existential" long-term budget challenges as the pandemic's impact on revenue exacerbates existing trends, a fiscal watchdog group warned in a new report. By fiscal year 2022, the T could have an operating budget deficit of more...
TRANSPORTATION
Jun 15, 2020
TRANSPORTATION
“Even before the pandemic hit, the MBTA’s operating costs jumped by 5.3%, a five-fold increase over previous years. Combine that steep rise in expenses with a $240 million loss in fare revenues due to the pandemic, and the T’s balanced budget has...
TRANSPORTATION
Jun 15, 2020
TRANSPORTATION
The business-backed financial watchdog said $827 million in federal aid is bailing out the T this fiscal year and next, but the transit authority is likely to face a $400 million deficit in fiscal 2022, which begins on July 1, 2021. Long-term, the...
TRANSPORTATION