The House Ways and Means Committee (HWM) has released its $45.96 billion budget for fiscal year (FY) 2019, its first under Chairman Sanchez. This bulletin provides an overview of this proposal, which will be debated by the full House during the week...

Two months ago, MTF identified ten key questions that will shape the FY 2019 budget. Now it is time to revisit those questions in the context of Governor Baker’s budget recommendations and the latest revenue and policy developments.

If the surtax passes, Massachusetts would have one of the highest tax rates in the nation on income over $1 million. And that may understate the upcoming shockwave to high-earners. Since SALT deductions are now capped at $10,000, the effective state...

Governor Baker has proposed a $45.9 billion budget for fiscal year (FY) 2019. This bulletin provides an overview of notable spending, revenue and policy proposals included in the document.

At the Foundation, we are looking at the TCJA through two primary lenses: the likely impact of the federal changes on state revenues; and the impacts on subgroups of taxpayers in Massachusetts– both individuals and corporations – that may warrant...

Today, the Secretary for Administration and Finance and the House and Senate Committees on Ways and Means announced a consensus tax revenue figure of $27.594 billion for FY 2019. As part of the agreement, the FY 2018 tax estimate has been upgraded by...

The fiscal year (FY) 2019 budget process is officially underway, commencing last month with the annual Consensus Revenue Hearing. The testimony provided at the hearing touched on a number of issues – including slow revenue growth, insufficient...

Heading toward the halfway mark in fiscal year (FY) 2018, the state’s short-term fiscal outlook remains unclear. At this point in the fiscal year, the state budget appears to be in balance, with known spending needs largely offset by stronger than...