According to the nonprofit Massachusetts Taxpayers Foundation (MTF), fiscal 2021 state revenues have already dropped an estimated $4 billion due to the economic impact of COVID-19, and hopes for a rapid recovery have faded. “The economic...

The Massachusetts Taxpayers Foundation said the Baker administration’s revenue estimate veered on the conservative end of projections made earlier this month, but noted fiscal 2022 could pose a bigger challenge. “The state will have to replace...

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...

The Massachusetts Taxpayers Foundation, a business-backed watchdog, is expecting a drop in revenue of $3.9 billion compared to initial estimates, according to its president, Eileen McAnneny. Others projected a more positive picture, though they...

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, projected fiscal 2021 tax revenues will amount to $27.27 billion, about 3.9 billion - 12.5% less - than the commonwealth’s original benchmark set in January. It’s lower than the $6...

Overall, according to the Massachusetts Taxpayers Foundation, the federal government has given $15.8 billion in federal relief payments to Massachusetts individuals. Some of that money was taxable, like unemployment benefits. Other money, like...

Uncertainties with federal aid make it hard to pin down exactly how big the state’s budget hole is, Eileen McAnneny of the Massachusetts Taxpayers Foundation said. Should another federal relief package not materialize, McAnneny said “the revenue...

Massachusetts Taxpayers Foundation President Eileen McAnneny said she expected economic recovery to be “up-and-down and perhaps spotty” until the pandemic is controlled. She projected tax revenues would land at $27.27 billion this fiscal year, $3.9...

Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, predicted a $3.9 billion drop in state tax revenues, which would increase without federal relief. "Even if there is a fiscal aid package, the proposed funding may be...