Capital

The state borrows approximately $4.5 billion annually to spend on infrastructure such as roads, bridges, schools, court houses, climate resiliency, and other needs. Separate from state investments, authorities including the Massachusetts Water Resource Authority (MWRA), the Massachusetts Bay Transportation Authority (MBTA), the Massachusetts School Building Authority (MSBA), Massport, and the University of Massachusetts Building Authority develop annual capital investment plans to invest in long-term infrastructure and equipment needs. Sources of revenues include General Obligation bonds, revenue bonds, and federal matching funds. MTF analyzes the sources, uses, and legislative action taken to support these investments.