Massachusetts is one of just twelve states that applies an estate tax to the assets of deceased residents. Even among the dozen states with an estate tax, the Massachusetts version stands out due to its low threshold ($1 million) and its application...

Governor Baker has put forward a $2.4 billion supplemental budget that uses $1.6 billion of the state’s fiscal year (FY) 2022 anticipated revenue surplus and several federal revenue sources to maintain and expand several COVID-19 related programs,...

On behalf of the Massachusetts Taxpayers Foundation, I write to express my support for An Act to Improve Massachusetts Competitiveness and Reduce the Cost of Living. The package proposed by Governor Baker is fiscally responsible and positions the...

Governor Baker’s Budget – Five Things to Know Among the many elements in Governor Baker’s budget, several proposals and assumptions stand out as being particularly notable.  Each of these items will play a significant role in the budget...

Budget leaders from the House, Senate, and Administration have agreed on $36.9 billion as the consensus tax revenue figure for the fiscal year 2023 budget. Budget makers expect tax revenues to grow by $967 million (2.7 percent) over estimated FY 2022...

On behalf of the Massachusetts Taxpayers Foundation, I write to express my support for House Bill 2881: An Act Relative to the Massachusetts Estate Tax Code. Massachusetts Taxpayers Foundation is a non-partisan, nationally recognized, non-profit...

To truly advance its equity goals, Massachusetts must take a leadership role in collecting and analyzing racial and ethnic health disparities, a new Massachusetts Taxpayers Foundation report suggests. The report underlines how Massachusetts must...

Massachusetts experienced a startling $4.5 billion surge in tax revenues in FY 2021 representing 15 percent growth in the midst of the pandemic. MTF projects that FY 2022 revenue growth will remain strong, reaching $37.2 billion or $2.9 billion above...

Over the last two years, the federal government has spent trillions of dollars to combat the COVID-19 pandemic and spur an equitable economic recovery. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Coronavirus Response and...

Today, the House and Senate passed a $4 billion spending bill which uses the remaining fiscal year 2021 surplus and up to $2.55 billion in Fiscal Recovery Funds provided through the American Rescue Plan.  The compromise legislation increases...