{"id":22566,"date":"2020-04-01T12:02:46","date_gmt":"2020-04-01T16:02:46","guid":{"rendered":"https:\/\/peterlevine.ws\/?p=22566"},"modified":"2020-04-01T12:02:48","modified_gmt":"2020-04-01T16:02:48","slug":"massachusetts-tax-shortfall-up-to-750-million-this-fiscal-year","status":"publish","type":"post","link":"https:\/\/peterlevine.ws\/?p=22566","title":{"rendered":"Massachusetts tax shortfall: up to $750 million this fiscal year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Declining tax revenues will likely cost our state about $500-$750 million during the current fiscal year, which ends on June 30. Over the next five quarters, the loss may reach $3 billion. I believe the total budget for the state is $43 billion, so that would be a 7% reduction&#8211;at a time of intense need.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The scale of this problem may not surprise anyone, but it&#8217;s important to be able to quantify it as a basis for smart policy. These estimates come from a new brief entitled \u201c<a href=\"https:\/\/tischcollege.tufts.edu\/sites\/default\/files\/CSPA_estimating_shortfall_MA_tax_revenue.pdf\">Estimating the Shortfall in Massachusetts Tax Revenues<\/a>,\u201d from the new Center for State Policy Analysis (cSPA) at Tufts University\u2019s\u00a0<a href=\"http:\/\/tischcollege.tufts.edu\/\">Jonathan M. Tisch College of Civic Life<\/a>, where I work.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Declining tax revenues will likely cost our state about $500-$750 million during the current fiscal year, which ends on June 30. Over the next five quarters, the loss may reach $3 billion. I believe the total budget for the state is $43 billion, so that would be a 7% reduction&#8211;at a time of intense need. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22566","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/posts\/22566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22566"}],"version-history":[{"count":2,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/posts\/22566\/revisions"}],"predecessor-version":[{"id":22568,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=\/wp\/v2\/posts\/22566\/revisions\/22568"}],"wp:attachment":[{"href":"https:\/\/peterlevine.ws\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peterlevine.ws\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}