In The News: Public Finance

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Late budget isn't a ‘governance weakness’

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Jul 10 2019

By Heath Fahle, CommonWealth Magazine

There should be no doubt that late budgets cause problems, though not the problems cited by Moody’s. For example, Moody’s worried that local governments would not receive monthly payments. The Commonwealth’s interim budget legislation is brief (less than 250 words), but it authorizes local aid payments explicitly. The state’s debt payments, another potential concern, are already fast-tracked by the state constitution and have little risk of going unpaid.
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Keller @ Large: What Encore Boston Harbor Opening Means For Tax Revenue

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Jun 23 2019

By Jon Keller, WBZ

BOSTON (CBS) – Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, joined WBZ-TV political analyst Jon Keller this week on Keller @ Large to discuss the state of tax issues in the state.

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Will state’s bet on Encore casino pay off? We’re about to find out

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Jun 22 2019

By Joshua Miller, The Boston Globe

Casino revenue is “not a panacea,” said Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, a fiscal watchdog group. “Nor will it solve the Commonwealth’s long-term fiscal challenges by any stretch,” though it could help fund new or supplement existing services.

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Boston business leaders weigh in on second go-around for a ‘millionaire’s tax’

Jun 15 2019

By Kalina Newman, South Coast Today

The MTF statement cited doubts over whether the estimated $2 billion in tax revenue would go towards the proposed transportation and education, or would even materialize at all. ″[T]he power to appropriate revenue in the state budget rests solely within the Legislature and cannot be guaranteed in the constitution,” according to the statement. Because the wording of the amendment says the funds are “subject to appropriation,” the decision on how to best spend the additional funds would need to be made each year by future legislatures.
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Baker urges high tech leaders to help in housing, education

Jun 10 2019

By Matt Murphy, State House News Service / The Salem News

The Massachusetts Taxpayers Foundation echoed the message from Anderson in an analysis released Monday where the group concluded that the millionaires tax was not "sound tax policy." The foundation also said the estimated $1.9 million in new tax revenue was "unlikely" to materialize due to the mobility of wealthy taxpayers and the volatility of capital gains taxes. "Given the probability of changes to the economy and taxpayers predilection to avoid taxes it's extremely likely that revenue collections will fall well short of projections for these two reasons," the foundation said.
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For ‘millionaires tax,’ debate rages on

May 24 2019

By Kalina Newman, The Metrowest Daily News

The Massachusetts Taxpayers Foundation, a business-funded public policy organization, has been vocal in its opposition and views the tax as a “far-reaching and unguided experiment that risks the state’s economic well-being.” The MTF statement expressed doubts over whether the estimated $2 billion in tax revenue would go toward the proposed transportation and education, or would even materialize at all.
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Prop 2 1/2 overrides disappearing, but taxpayers still pay

May 20 2019

By Eli Sherman, Wicked Local

But within the last decade, new construction and rising property values have helped boost local revenue, offsetting a declining share of state aid provided to municipalities, which fell to 19 percent of municipal revenue in fiscal 2018 compared to 28 percent in fiscal 1999, according to a 2019 report by the Massachusetts Taxpayers Foundation. The increase in new building and property values has also made overrides less common.
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April tax haul could fatten state savings account

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May 6 2019

By Matt Murphy, State House News Service / The Taunton Daily Gazette

Taxpayers Foundation President Eileen McAnneny said legislators should not spend the possible surplus on operating budget expenses, but rather save it toward the next “milestone” of $3 billion in reserves, or use it to pay down debt and pension liabilities and invest in one-time priorities like fixing the state’s transportation system or preparing for climate change.
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Jobs, local aid set to flow from Everett casino

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May 1 2019

By Colin Young, State House News Service / The Salem News

In a report published Wednesday, the Massachusetts Taxpayers Foundation said the state is "essentially on pace" to collect its anticipated $138 million in gaming revenue this fiscal year and can expect to collect $294 million in fiscal year 2020, which will begin about a week after Encore Boston Harbor's anticipated opening date. More than a third of that revenue — $107 million in fiscal 2020 — will go to cities and towns as local aid. Gaming revenue will account for nine percent of all unrestricted local aid, MTF said.
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Editorial: House budget holds the line, but for how long?

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Apr 20 2019

The Boston Globe

But as the Taxpayers Foundation points out, there are also some trip wires out there — items perpetually underfunded. When Administration and Finance Secretary Mike Heffernan announced the governor was putting in $100 million for snow and ice removal, his staff cheered — because, of course, that account is always underfunded. In keeping with that dysfunctional tradition, the House cut it back to $50 million.
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