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

Tax revenues will grow by $980 million, or 3.8 percent, to $26.69 billion in fiscal 2017, slower than the 4.6 percent annual average over the past five years and below that of previous economic recoveries, according to a new forecast released today...

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...

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.

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...

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

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...

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.