Massachusetts tax revenue up in August

Boston Statehouse

BOSTON (WWLP) – The coronavirus has taken a toll on the state’s economy, from the governor declaring a state of emergency and the state economy coming to a screeching halt.

Things are looking good for the state of Massachusetts. In fact, our tax revenue for the month of August came in around 3 percent higher than the year before.

According to the Department of Revenue, the state took in more than $1.9 billion last month, which they say is a promising sign for the next fiscal year. Governor Charlie Baker echoed their optimism during his news conference last week

“Half a million people who weren’t working in Massachusetts are working now, who weren’t working at the beginning of the summer alright, now, that’s progress,” Baker said.

Thirteen million dollars that was collected last month will go towards the FY-2021 budget.

Lawmakers spent months negotiating the budget but failed to pass one before breaking for their August recess. They are expected to return to the building within the next week or so to resume those negotiations.

Massachusetts lawmakers say they’ll have a better idea of the state’s full financial picture once congress reaches an agreement on another relief package. 

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