Massachusetts’ Government Forecasting Plan


One element that must be considered while developing a plan is how to forecast. This week you will use information you have already researched in that attachment and build upon and explain forecasting for your entity Massachusetts’ Government Forecasting Plan.

Massachusetts’ Government Forecasting Plan

The State government of Massachusetts makes a forecasting plan for the following financial year based on the current and past factors and in consideration of the expected changes in the near future. The budget forecast in the state is based on the research on economic outlook conducted by Massachusetts Taxpayers Foundation. If any issues emerge after making the budget forecast with an impact on the economic outlook, the law makers revise the budget forecast.

The lawmakers at Boston wrote a budget forecast for the fiscal year 2021 in January 2020. After the spread of Covid-19 disease, however, they revised it in April 2020. Based on the revised budget forecast for the fiscal year 2021, the lawmakers at Boston predicted that the total revenue will fall by $4.4 billion from the consensus revenue estimate of $31.151 billion that was set in January 2020 (Bernsau, 2020). The loss is expected to be caused by decline in expected sales tax by $1.5 billion, withholding taxes by $1.2 billion, capital-gains tax by $780 million and corporate excise tax by $760 million (Bernsau, 2020). The decline is expected to be caused by the impact of Covid-19 disease and other factors such as increase in unemployment rate in the state. During the forecast planning, the law makers identify areas where tax collection is expected to increase or decrease, relative to the previous years. For instance, the law makers in Boston have forecasted an increase in tax revenue from recreational marijuana to around $145.7 million in the fiscal year 2021, up from $22 million in the fiscal year 2019 (Wise, 2020). The law makers predict that tax breaks in 2021 will lead to decline in income tax revenue by $64 million (Wise, 2020). In Massachusetts, some of the forecasts are done for several years ahead Massachusetts’ Government Forecasting Plan.


Bernsau, M. W. (2020, May 4). McAnneny op-ed: State budget process must go on. Retrieved 8 August 2020 from

Wise, K. (2020, January 16). FY 2021 BUDGET PREVIEW: Revenue Expectations for the FY 2021 State Budget. Retrieved 8 August 2020 from

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

Money-back Guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism Guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision Policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy Policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation Guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more