BOSTON – The state of Massachusetts is hoping tax revenues rolling in can help address some of the monetary issues the state is having. The governor has implemented a hiring freeze for all non-emergent openings after big spending at start the year. 

With Tax Day now behind it, the Massachusetts Department of Revenue released early numbers for its collections during peak season, but as Doug Howgate from the Massachusetts Taxpayers Foundation explained, the early numbers aren’t always an indicator of the total income. 

“I'm always leery to read too much into an April mid-month report because you don't know that it's an apples-to-apples comparison,” explained Howgate. “The bottom line is, hey, it's nice that we're slightly ahead of last year's pace, but clearly we've got a lot of ground to cover in the second half if we're going to meet our revenue goal.”

The state is reporting higher numbers than last year, now bringing in $23 million more than this time in 2023, which is good, but it's not on pace with the numbers needed to fund the $56.1 billion budget. 

The goal for the entire month is about $500 million more than last year, which technically is still possible but unlikely. 

Howgate says it's concerning, but it's not time to panic. 

“Right now, the state is planning for a pretty standard budget next year if April doesn't come in and benchmark OK, we can probably manage through that is made as a committed benchmark in June. Then you start to see the concern creep up, because it will just have gone on for an extended period of time,” Howgate said. 

“Ultimately, that would mean either reduction in services, using reserves, other things. We're not there yet, but the longer we go without getting there, without things improving, I think the more concern you're going to hear.”

Howgate says in May, the department of revenue will release its full April numbers and give a better idea of if it hit its goals.