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.

  • Thenewrepublican

    Cartoonist Dan Wasserman put a prominent cartoon into the Boston Globe on December 15. Wasserman could simply not have been more deceitful or disingenuous when he made his inflammatory and deceptive cartoon portraying ALL of the Republican candidates as being war hawks who want to aggressively go to war in the Middle East and shoot down Russian airplanes.

    My question is this:
    Mr. Wasserman, did you even watch the debate? Both Rand Paul, who I spoke to personally on the subject last Saturday and Donald Trump were HARSHLY opposed to shooting down Russian planes and expressed a cooperative approach to fighting ISIS throughout the debate.
    Rand Paul and Donald Trump were both opposed to the shooting down of Russian planes and even talked about cooperating with the Russians to create a more stable/peaceful Middle East.

    Mr. Wasserman’s cartoon is indeed a true “joke.” It deceives the voters into thinking that ALL Republican candidates are war hawks, when two are not at all. Did Mr. Wasserman have to leave the room when Rand Paul, who accused Chris Christie of “wanting to start WWIII after Christie said he would shoot down Russian airplanes, should they enter a potential “no fly” zone? Or did Wasserman never even watch the debate and just make his cartoon on simple hearsay?

    It is time for all of us to “call out” out ineptitude and deception in the media when it comes to being deceptive and disingenuous with the American people.
    I am proud of both Rand Paul and Donald Trump, who assertively stood up to the “shoot em’ down” mentality displayed by some Republican candidates and our current President.
    Mr. Wasserman, unlike what your cartoon asserts, there are Republican candidates who clearly want a more peaceful relationship with both Russia and the rest of the world and your cartoon assertively ignores that fact.
    Mr. Wasserman is just one more reason why we should never consider the Globe to be a legitimate news source.

    Yours truly, Kevin Scott