On January 8th, budget leaders from the House, Senate, and Administration announced a $40.202 billion consensus tax revenue figure for the Fiscal Year (FY) 2025 budget, excluding surtax revenue. Budget writers expect tax revenues to grow by $792...

The Healey Administration announced a $1 billion revenue shortfall, attributable to below benchmark revenue collections to date.The FY 2024 revenue benchmark has been downgraded to $39.410 billion.After accounting for the shortfall and the impacts of...

On November 16, the MBTA presented an updated analysis of its State of Good Repair (SGR) Index, which measures the Authority’s capital asset needs, to the Board of Directors (here) in which it revised the SGR Index to $24.5 billion from the most...

On December 4th, the Massachusetts Taxpayers Foundation (MTF), along with the Department of Revenue (DOR) and other economic experts participated in the annual Consensus Revenue Hearing. The hearing offers administration and legislative budget...

Tax revenues for Fiscal Year (FY) 2024 and FY 2025 settle into a post-COVID pattern of lower growth as the economy slows, impacts from migration and an aging population emerge (Appendix A), and tax reforms take effect. Excluding revenues related to...

Workforce Changes Since 2019:The civilian labor force fell by ~130,000;120,000 residents turned 65150,000 left the workforce due to retirementIn sum - in September 2023, there were 150,000 more job openings than unemployed people in the...

Governor Healey filed her administration’s FY 2023 closeout supplemental budget on September 13th, and versions of the spending bill were passed by the House and Senate on November 8th and 14th, respectively. While the House and Senate bills largely...

The following brief provides an analysis of state workforce investments in the FY 2019 to FY 2023 budgets focusing on sector-based training programs. As MTF noted in our earlier introductory brief, these programs prioritize creating talent pipelines...

On October 19th, the Healey administration announced its plan to pursue the federal funding opportunities available through the Infrastructure Investments and Jobs Act (IIJA), Inflation Reduction Act (IRA), and Creating Helpful Incentives to Produce...

The Fiscal Year (FY) 2024 budget was signed into law on August 9th, but four months into the new fiscal year, work remains for administrative and legislative budget writers to close the books on FY 2023. This work – typically marked by the passage of...