May 31, 2020
PUBLIC FINANCE > Budget > FY 2021

A rocky road to economic recovery

Editorial ,

The Lowell Sun

Hopes for an expedited economic rebound from the COVID-19 shutdown simply isn’t realistic, according to the Massachusetts Taxpayers Foundation, which predicts a prolonged recovery period that will strain state resources, which may not fully recover until 2025.

The impacts of the economy’s swoon could be assuaged somewhat by tapping into the state’s $3.5 billion reserve fund, or if Congress sends more relief aid to states, but even with additional fiscal stimulus, the group said past recessions have proven that Massachusetts could be in for several years of austerity.