MTF expects tax revenues to increase by $1.54 billion to $29.73 billion in FY 2022, a $1.54 billion or 5.5 percent increase from the most recent FY 2021 projection of $28.19 billion. The Massachusetts Taxpayers Foundation FY 2022 forecast is $1.68...

The Legislature passed its FY 2021 budget on December 5, hoping to avoid the need for an another interim budget and just days before the FY 2022 consensus revenue hearing that kicks off the next budget process. The budget, now awaiting the...

Quickly following the House’s actions, the Senate passed its budget late Wednesday, November 17. The Senate was able to expeditiously conclude its budget debate in two days, in part by adopting four bundled amendments that added $35 million in...

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...

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...

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...

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...

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...

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...

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...