Displaying 81–90 of 272
Nov 13, 2020
PUBLIC FINANCE > Budget > FY 2021
This week the House debated and passed its budget, four and a half months after the beginning of the fiscal year. With four consolidated amendments adding $24.53 million to spending, the budget, totaling $46.06 billion, is approximately $285 million...
PUBLIC FINANCE > Budget > FY 2021
Oct 14, 2020
PUBLIC FINANCE > Budget > FY 2021
Following months of economic uncertainty and temporary budgets to keep the state operating, Administration and Finance (ANF) provided the Legislature with its revenue and spending proposals for their review and consideration.  Notably, the...
PUBLIC FINANCE > Budget > FY 2021
Oct 13, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF President McAnneny shared a presentation with the Senate Revenue Working Group about the state’s revenue outlook and the road to recovery. Entitled "A Reality Check on Revenues and Recovery," the presentation argued that now is not the time to...
PUBLIC FINANCE > Budget > FY 2021
Oct 07, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF President Eileen McAnneny testified last week at the Economic Roundtable convened by budget writers to help them determine the size of the revenue shortfall for FY2021. The state has been operating on an interim budget since the start of the...
PUBLIC FINANCE > Budget > FY 2021
Oct 07, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF’s President Eileen McAnneny said, “while our revised tax revenue forecast has improved since MTF’s April projection, the improvement is due largely to unprecedented levels of federal financial assistance.  Numerous headwinds could slow the...
PUBLIC FINANCE > Budget > FY 2021
Jun 30, 2020
PUBLIC FINANCE > Budget > FY 2021
On June 19, Governor Baker filed H. 4806, a one month, $5.25 billion spending authorization to keep the government operational through July 31 that the legislature has since enacted. In this interim budget, the guidance indicates that for each...
PUBLIC FINANCE > Budget > FY 2021
May 28, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF recently downgraded its FY 2021 tax revenue forecast to a loss of $6 billion, representing a nearly 20 percent decline from the $31.15 billion consensus benchmark. At 20 percent, the revised forecast places Massachusetts towards the...
PUBLIC FINANCE > Budget > FY 2021
May 15, 2020
PUBLIC FINANCE > Budget > FY 2021
FY 2021 tax revenues are projected to fall by $6 billion or 19.3 percent from the January 2020 benchmark. Massive layoffs push the unemployment rate to nearly 22 percent in Q4 FY 2020, causing withholding taxes to decline by $1.9 billion. Shutting...
PUBLIC FINANCE > Budget > FY 2021
May 01, 2020
PUBLIC FINANCE > Budget > FY 2021
In a letter to Senate Ways and Means Chairmen Michael Rodrigues, Aaron Michlewitz and Administration and Finance Secretary Michael Heffernan, the chief fiscal 2021 budget planners, MTF President Eileen McAnneny outlined the array of options available...
PUBLIC FINANCE > Budget > FY 2021
Apr 16, 2020
PUBLIC FINANCE > Budget > FY 2021
MTF’s new analysis highlights the implications of our revised forecast on the MBTA, the Massachusetts School Building Authority (MSBA), and other purposes supported by dedicated tax revenue. We estimate that compared to the original consensus...
PUBLIC FINANCE > Budget > FY 2021