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- July 14 2016The eventful final stages of the FY 2017 budget process are nearly complete. Last week, Governor Baker signed the Conference Committee budget after vetoing $267.1 million in spending and striking or proposing amendments to 60 budget sections. The legislature has until the end of July to take up overrides of the Governor’s vetoes at which point the FY 2017 budget will be finalized.
- June 30 2016The FY 2017 Conference Committee report released yesterday reconciles the House and Senate budgets while assuming $750 million less in tax revenue than previous spending plans. This analysis outlines the Conference Committee plan for balancing the budget in light of reduced tax revenues and highlights areas of concern as we start the fiscal year.
- June 20 2016With just days left in the fiscal year, tax revenues currently stand at $310 million below benchmark for FY 2016. This shortfall creates major challenges for ending the current fiscal year in balance and calls into question the accuracy of the tax revenue projection used to build the FY 2017 spending plans put forward by the Governor, the House and Senate.
- June 9 2016The Massachusetts Taxpayers Foundation is pleased to issue this report entitled: “The Commonwealth’s Capital Budget: A Primer” the purpose of which is to provide a guide on the process, how it differs from the operating budget and how capital revenues are spent. This primer is the first in a series of MTF reports dedicated to the Commonwealth’s capital spending.
- May 31 2016Late last week the Senate completed its FY 2017 budget process. During three days of debate, the Senate added $61.4 million in new spending and 181 new policy sections to the budget proposal submitted by the Senate Committee on Ways and Means (SWM). The next stop in the process is the appointment of a conference committee to resolve the differences.
- May 17 2016The Senate Ways and Means budget fares well when compared with the three fiscal criteria set out by the Foundation to analyze the FY 2017 budget. Sharing the fiscal approach adopted by the House and the Governor, this spending plan proposes restrained spending growth and no new revenue initiatives.
- April 28 2016This week, the House completed its debate of the FY 2017 budget. Over the course of three days, the House added $59.5 million in new budget spending and 91 new policy sections to the budget plan released from the House Ways and Means Committee (HWM) earlier in the Month.