Publications: Budget

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  • March 19 2013
    The Governor’s proposed sales tax on computer and data processing and custom software would have very serious ramifications for major sectors of the state’s economy.
  • January 30 2013

    The Foundation’s analysis of the Governor’s tax proposal shows that the elimination of the personal income tax exemptions and the additional corporate taxes account for most of the $1.9 billion in new revenues. The analysis also summarizes the 44 personal income tax exemptions and deductions that he has proposed to eliminate.

  • December 11 2012

    Fiscal 2014 tax revenues will grow by $835 million, or 3.9 percent, to $22.37 billion, according to a new forecast released today by the Massachusetts Taxpayers Foundation.

    “While fiscal 2014 shows an improving revenue picture, we are still a long way from experiencing the level of revenue growth of prior economic recoveries,” Widmer said.

  • November 15 2012

    The Foundation’s latest report, State Tax Expenditures: Less Than Meets The Eye, examines the state’s annual estimate of “tax expenditures,” or the amount of revenue the state foregoes because of exceptions to tax laws. While commonly thought of as incentives, tax breaks, or loopholes that benefit corporations, the Foundation’s analysis shows that billions of the state’s so-called tax expenditures are merely the result of longstanding tax policies and practices, mostly benefitting individuals.

  • May 30 2012

    While tax expenditures are commonly thought of as tax breaks given to specific businesses or industries, they actually represent a much broader set of tax policies that benefit every resident of the state. Tax expenditures include all exemptions from the state sales tax, as well as exclusions, deductions, and credits that the state allows on personal and corporate income taxes.

  • May 24 2012

    Implementation of the 2011 municipal health reform law is vastly surpassing expectations as 102 Massachusetts communities have negotiated agreements with employees that will generate $117 million in first year savings, according to a new analysis released today by the Massachusetts Taxpayers Foundation.

  • May 16 2012

    In the attached table, the Foundation summarizes and contrasts the 2013 budget proposals of Governor Patrick, the House and Senate Ways and Means as well as final spending for fiscal 2010 and 2011 and the original and projected spending for fiscal 2012.

  • February 15 2011

    The 50 largest cities and towns in Massachusetts face a crushing $20 billion liability for retiree health care benefits that threatens to wreak havoc with local government services, according to a new report released today by the Massachusetts Taxpayers Foundation.

    The report, Retiree Health Care: The Brick That Broke Municipalities’ Backs, is the first analysis of municipal retiree health care liabilities in Massachusetts. The $20 billion represents what these governments must pay in today’s dollars for the lifetime health care benefits already earned by 150,000 current employees and retirees in the 50 communities.

  • December 14 2010

    Fiscal 2012 tax revenues will grow by $923 million or 4.7 percent to reach a total of $20.56 billion, according to a new forecast released today by the Massachusetts Taxpayers Foundation. The Foundation projects tax collections of $19.63 billion in fiscal 2011, an increase of $554 million over the current consensus forecast, and approximately $1.1 billion or 5.9 percent over tax collections in 2010.

    “Despite almost a billion dollars in revenue growth, the state faces a fiscal 2012 shortfall of approximately $2 billion with no federal stimulus dollars and limited state reserves,” Mr. Widmer said. “The 2012 budget will require yet another round of cuts in local aid, human services, higher education, and almost all other state programs.”

  • December 6 2010
    “Preparing a budget months in advance is difficult in the best of circumstances but this year is particularly challenging given the huge revenue swings that could result from any one of several scenarios in play, including the potential impact on state finances from federal tax cuts and ballot initiatives impacting state tax revenues.”