BHI releases revenue estimates for FY16 & FY17

(BOSTON- December 16, 2015) The Beacon Hill Institute is pleased to offer its revenue forecast for Fiscal Year (FY) 2016 and (FY) 2017.

BHI predicts that tax revenues will be:

* $25.9 billion in FY 2016, 4% over FY 2015, and
* $27.4 billion in FY 2017, 5.6% over FY 2016.

The 4% increase for FY 2016 and the 5.6% increase in FY 2017 are largely driven by a stronger recovery in the growth of state personal income. The New England Economic Partnership projects state personal income to increase by 6.0% and 5.1% in Calendar Year (CY) 2016 and 2017, respectively.  The BHI estimate does not include a separate forecast for capital gains tax revenue which is often volatile.

The entire release which includes a survey of the national and state economies is available here.

 

About Beacon Hill Institute

The Beacon Hill Institute engages in rigorous economic research and conducts educational programs for the purpose of producing and disseminating readable analyses of current public policy issues to voters, taxpayers, opinion leaders and policy makers.