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A Blast from the Past: Reagan-Era Tax Law Hits Hard

Jason Wright August 5, 2022 Blog Budget Resources Taxes

You are not alone if you had never heard of the Massachusetts “tax cap law,” or what is also known as “62F.” This Reagan-era law sets an artificial limit on how much tax revenue Massachusetts can collect, regardless of the current needs of the Commonwealth.

A More Generous Compromise: The Legislature’s Fiscal Year 2023 Budget Proposal

MassBudget Staff July 20, 2022 Budget Brief Budget Resources

The Legislature’s Fiscal Year (FY) 2023 budget released earlier this week by the Conference Committee differs dramatically from both the House and Senate proposals in part because of its larger bottom line, which estimates tax collections of $39.58 billion, an increase of $2.66 billion or 7.2 percent.

Prospects for Investment, Stability, and Growth in Early Education in Massachusetts

Colin Jones July 18, 2022 Budget Resources Education Kids Reports

As the challenges of the COVID pandemic continue to reverberate across the state, early education and care (EEC) providers persevere every day. Early care centers across the Commonwealth continue to deliver enriching support for young children while allowing parents to work and provide for their families. EEC has an essential role in keeping our state economy moving during these challenging times.

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Current Estate Tax Proposals Would Give Largest Benefits to Wealthiest Estates; Alternative Method Would Fix This Problem

Phineas Baxandall July 5, 2022 Budget Resources Taxes

The tax on inherited estates is Massachusetts’ only tax that directly reduces wealth inequality. Although the pandemic has highlighted disparities between rich and poor families, the Governor and some in the Legislature have proposed changes to the estate tax that would largely benefit the state’s wealthiest households.

When A Surplus Is Not Extra

Phineas Baxandall, Nancy Wagman , Kurt Wise June 16, 2022 Budget Resources Reports

Sometimes a “surplus” is not really a surplus at all, and the term “tax surplus” can be particularly misleading. A tax surplus occurs when tax collections come in higher than the amount expected when the state created its budget at the beginning of the fiscal year. When that initial estimate turns out to be too low, there is a “surplus.” It does not mean that the state budget has already met the needs of the moment or that there is extra unneeded revenue.

Options for Targeted Tax Relief and a Warning About Estate Tax Changes

MassBudget Staff June 10, 2022 Budget Resources Taxes

June 10, 2022 To: House and Senate Ways and Means Committee members and staff Re: Options for Targeted Tax Relief and a Warning About Estate …

Ready for Resolution: The Fiscal Year 2023 Senate Budget

MassBudget Staff June 1, 2022 Budget Brief Budget Resources

After debate and quick consideration of more than 1,000 amendments, the Senate increased their Fiscal Year (FY) 2023 budget bottom line by more than $90 million. The budget debate has highlighted the power of this $50 billion bill to set the tone and the direction for the state in the year to come.

Moving the Recovery Story Forward: The Fiscal Year 2023 Senate Ways and Means Budget

MassBudget Staff May 17, 2022 Budget Brief Budget Resources

The Senate Committee on Ways and Means (SWM) released a budget proposal that illustrates again how a state budget can be a powerful tool for advancing equity and improving well-being – as long as policymakers don’t decide to give hundreds of millions of dollars of revenue each year to the wealthiest residents of the Commonwealth.

We’re Not Out of the Woods Yet

Marie-Frances Rivera May 5, 2022 Budget Resources Statement Taxes

“Yesterday, Senate President Karen Spilka rightfully noted the need to balance “targeted spending investments to a number of crucial areas, such as housing, childcare and …

Important Steps Forward: The Fiscal Year 2023 House Budget

MassBudget Staff May 5, 2022 Budget Brief Budget Resources

The House Fiscal Year (FY) 2023 budget reflects many of the challenges the state faces moving out of the most acute phases of the COVID-19 pandemic, but has also taken a first step towards creating a budget that pushes the state towards equity in several important areas.

House Budget Sets the Stage for Equity in Massachusetts

Marie-Frances Rivera April 28, 2022 Budget Resources Press Release Statement

Statement by Marie-Frances Rivera, President of MassBudget, on the FY 2023 House budget released on April 27, 2022

Following a Separate Path: House Ways and Means FY2023 Budget Proposal

MassBudget Staff April 21, 2022 Budget Brief Budget Resources

Compared to the Governor’s budget proposal earlier this year, the HWM budget is an example of what is possible when policymakers choose to focus on important investments in the state’s future rather than on tax cuts for the wealthy.

HWM’s FY 2023 Budget Proposal Helps Balance the Scales

Marie-Frances Rivera April 13, 2022 Budget Resources Press Release Statement

Statement from MassBudget President Marie-Frances Rivera in response to the House Ways & Means Committee’s FY 2023 Budget Proposal

Housing Funding: ARPA in Massachusetts

La-Brina Almeida April 11, 2022 Budget Resources Housing Reports

The fight for using ARPA dollars for housing is not over! Dollars from the Coronavirus State Fiscal Recovery Fund – the most flexible pot of COVID relief money provided by the U.S. government – are still available and provide an opportunity to fund housing initiatives that foster a more equitable recovery.