This brief frames the final FY 2016 budget shortfall and takes a closer look at some of the factors that created the gap. It will also preview some of the solutions likely to be used to close the gap and outline possible implications for FY 2017.

This bulletin assesses the impact that recent tax collections may have on the state’s ability to end the year in balance and highlights some possible implications for FY 2017.

On January 8th, Governor Baker announced $105 million in budget cuts and new revenues to partially address an midyear budget gap.

Troubling state budgetary practices have left the Commonwealth’s Stabilization Fund balance insufficient to meet the next fiscal downturn and immediate action is needed to increase and safeguard the fund for future use, according to a report released today by the Massachusetts Taxpayers Foundation…

Despite the vetoes, the 2016 budget bottom line remains virtually the same because there are both reduced appropriations and savings projections that are lower than originally anticipated.

Please find attached the Foundation’s analysis on the FY16 Senate Budget which was finalized last week.

In its fiscal 2016 budget, the Senate proposed increasing the state’s earned income tax credit (EITC), raising personal exemptions, and funding those measures by freezing the income tax rate at 5.15 percent with the goal of increasing the state’s personal income tax progressivity. This bulletin…

The FY 2016 budget has been hampered by a large structural gap that is the result of $1.2 billion in one-time funds used in FY 2015 and $1.5 billion in spending growth for non-discretionary accounts. That $2.7 billion total shortfall is offset by tax revenue growth of $872 million, leaving a $1.8…

In anticipation of the release of the Governor’s budget later this week, this briefing provides a status report on fiscal year 2016 and an overview of what we anticipate for fiscal year 2017.