Tax revenue forecasts all over map

commonwealth-magazineBy 

The state’s tax revenue forecasters are more than $1 billion apart in their projections for fiscal 2018, the largest gap between high and low estimates in the last six years.

At a State House hearing on Monday with lawmakers and Baker administration officials who are trying to develop a consensus revenue estimate for the coming fiscal year, the forecasters gave projections that ranged from a low of $26.64 billion (Massachusetts Taxpayers Foundation) to a high of $27.8 billion (Beacon Hill Institute). In between were estimates from Alan Clayton-Matthews at Northeastern University ($27.267 billion) and two firms retained by the state Revenue Department, Moody’s Economy.com ($27.104 billion) and IHS Markit ($26.81 billion).

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