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Displaying 1-10 of 64
Oct 28, 2020
Publication
Oct 28, 2020
Publication
Eileen McAnneny Remarks at MTF's 87th Annual Meeting
MTF President Eileen McAnneny's remarks at MTF's 87th Annual Meeting focused on the theme, “The Pandemic, Presidential Elections and Public Unrest.” "This captures the essence of this year," said McAnneny. "We have all been affected by&nbsp...
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Publication
Oct 13, 2020
Publication
Oct 13, 2020
Publication
A Reality Check on Revenues and Recovery
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...
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Publication
Jun 30, 2020
Publication
Jun 30, 2020
Publication
The FY21 Interim Budget – It's Different This Time
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...
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Publication
May 28, 2020
Publication
May 28, 2020
Publication
Massachusetts Fiscal Challenges Could Last Years
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...
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Publication
May 15, 2020
Publication
May 15, 2020
Publication
Updated FY 2021 Tax Revenue Forecast: $6 Billion Loss
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...
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Publication
Apr 16, 2020
Publication
Apr 16, 2020
Publication
FY 2021 Tax Revenue Forecast – COVID-19 Pandemic
MTF has revised its FY 2021 tax revenue forecast to include the impact of the COVID-19 pandemic. We project a decline of $4.4 billion or 14.1% from the January 2020 benchmark. The forecast assumes new virus cases peak in April, abate in June, and...
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Publication
Apr 14, 2020
News Item
Apr 14, 2020
News Item
MTF Testifies at the April 14 Virtual Economic Summit
MTF revised its FY 2021 tax revenue forecast and presented its findings at the April 14 Virtual Roundtable Discussion on the Impact of COVID-19 on the Commonwealth's Fiscal Health and Economy, hosted by the Senate and House Chairs of Ways & Means...
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News Item
Oct 15, 2020
News Item
Oct 15, 2020
News Item
Pandemic forcing exodus of women from workforce
According to data from the Federal Reserve, cited by the Massachusetts Taxpayers Foundation in recent legislative testimony, the labor force in Massachusetts in August had 143,840 fewer workers than pre-pandemic, a decline of 3.9 percent. While the...
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News Item
Jun 25, 2020
News Item
Jun 25, 2020
News Item
Pressure builds on state government to help businesses deal with the pandemic
Unlike Congress, state lawmakers need to pass a balanced budget every year. Money is tight, to say the least: The Massachusetts Taxpayers Foundation recently estimated that state tax revenue in the next fiscal year will drop by $6 billion,...
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News Item
Jun 15, 2020
Publication
Jun 15, 2020
Publication
The MBTA Operating Budget – It’s Déjà Vu All Over Again
Driven by operating costs that were already growing and the pandemic’s deep impacts on revenues, a Massachusetts Bay Transit Authority (hereinafter the MBTA or the T) operating budget that was in balance in FY 19 is now moving backward toward a...
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Publication

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