Many Massachusetts businesses today owe their survival in part to UI sustaining customers’ demand for products and services. Over the years, even though the UI system funding has run low, legislators have repeatedly waived rules requiring employers to increase their payroll contributions. The state has had to borrow from the federal UI Trust Fund which …
As a Commonwealth, we must respond to these intertwined health and economic crises in ways that acknowledge and correct for these deep-seated and longstanding inequities. Raising additional revenue through rate increases on unearned income would help the Commonwealth address the immediate harms of the pandemic, as well as make the investments that will speed us …
This was a presentation to a coalition of policy advocates, social service providers, and academics, to give members an overview of the Baker Administration’s revised FY 2021 budget and what it means for the programs they care about. View the full presentation here.
By returning the state corporate income tax to pre-2010 rates, the Commonwealth could raise $375 million to $500 million a year to help fund a racially equitable, economically just, and robust recovery.
More than $3.3 billion in CARES Act funding comes to our Massachusetts communities based on population estimates from the census. Learn how the Commonwealth can get its fair share of power and money through a complete, accurate 2020 Census count in our latest report.
As a result of the pandemic, municipalities face increased spending needs and declining revenues. Many have the ability to raise property taxes, though others are constrained by Proposition 2 1/2. Moreover, property taxes tend to fall hardest on those with lower incomes. Without sufficient municipal aid, cities and towns may be forced to make public cuts which would slow the economic recovery.
Anyone concerned about Massachusetts’ economic recovery should be worried about state and municipal budget cuts. This is not the time for austerity. Avoiding budget cuts through targeted tax increases is the best way to build a strong recovery in Massachusetts. Learn more in the latest on our Blogs & Briefs publication.
What were the tax breaks provided to the wealthy and businesses in the CARES Act? What is the cost of these tax breaks? Learn how these tax breaks could impact the Commonwealth's recovery from COVID-19.
How has the crisis affected the state budget and what does this mean? MassBudget has compiled the answers to some commonly asked questions and we want to hear from you. Read the latest and share your thoughts!
What is the Municipal Liquidity Facility? How does it work? How does it help Massachusetts? Learn more about how the Federal Reserve’s new loan program for states affects the Commonwealth.