The federal government spends more than $6 trillion each year through its annual budget. The federal budget process shares some similarities with the state, but it also differs in many ways.
This resource provides a basic outline of that process and how it might affect Massachusetts.
Important Basics:
Massachusetts is facing scrutiny on two fronts as public markets collapse and pressure on government pensions for its nearly 300,000 public employees and retirees and budgets rise. The commonwealth’s credit rating could take the real hit in all of this. The Boston Globe reports “the business-backed Massachusetts Taxpayers Foundation, said a prolonged market slump could make it tougher for the state to reach its goal of fully funding its pension obligations by 2037. If the state falls short, bond rating agencies such as S&P and Moody’s will pay attention.”
State and local public finance is the analytical framework for virtually all MTF research projects, in furtherance of the organization’s mission to strengthen the state’s finances and position the Commonwealth for long-term growth. MTF’s award-winning research and analysis has been a valuable resource for public and private sector decision-makers in Massachusetts for decades. MTF leverages its expertise to provide tax revenue forecasts, budget analysis, and policy recommendations to the Commonwealth’s policymakers.
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