June 25, 2020
PUBLIC FINANCE > Budget > FY 2021

Pressure builds on state government to help businesses deal with the pandemic

Jon Chesto ,

The Boston Globe

Unlike Congress, state lawmakers need to pass a balanced budget every year. Money is tight, to say the least: The Massachusetts Taxpayers Foundation recently estimated that state tax revenue in the next fiscal year will drop by $6 billion, or nearly 20 percent, from what state officials initially anticipated before the coronavirus. (Suddenly, that $3.5 billion rainy day fund doesn’t look so big anymore.)