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Population aging and state pensions in New England
This Research Report analyzes the features of the New England state pension plans in the context of the region's changing demographic environment. The first section of the report documents key demographic developments: the aging of the Baby Boom generation and increasing life expectancies. Key features of the primary state pension plan in each New England state are then compared, focusing in particular on the age-specific characteristics of the plans. A third section analyzes the labor market implications of the plans' formulas, such as how they apply to workers choosing retirement at ...
Issues in economics
Budget crises in the six New England states have prompted spending cuts, leaving taxpayers to ask, "Where does the state spend our money?"
The fiscal capacity of New England
New Englanders may demand high levels of government services, but their underlying need for public service provision remains quite low, and they tend to be able to better afford the costs of these services relative to the rest of the nation. As a result, the region?s state and local governments face relatively less pressure to raise taxes or increase spending in order to achieve a basic level of public services, and constituent preferences may play a larger role in the fiscal decisions that New England policymakers make.
Revenue forecasting processes in New England
State governments creating their budgets are concerned about available revenues. The basis of a successful budget is a sound revenue forecast. How states arrive at this forecast is both a science and an art and the approach differs markedly among states. This policy brief responds to the dearth of readily accessible information about states? revenue forecasting processes by describing, comparing, and contrasting the revenue forecasting processes of the New England states.
Improving low-income policies in tight fiscal times
Iris Lav and John Springer of the Center on Budget and Policy Priorities provide information to help groups concerned with low-income families understand how they might best participate in state policy debates.