In spite of unanimous passage by both the House and the Senate, in the final days of the legislative session a compromise economic development bill failed to reach the Governor’s desk. While the two versions of the bill differ significantly on policy proposals, the framework for both bills is the same: authorizing capital spending that supports the state’s five-year economic development plan, continuing the state’s successful life sciences initiative, and creating a similar initiative for climate tech.
The fate of the economic development bill is uncertain. By rule, House and Senate formal sessions ended on July 31st and the authorizations in the economic development bill require a roll call vote. However, the legislature could agree to return to formal session to act on this bill.
This Bulletin lays out the key reasons why completing the economic development bill this session is not only possible, but essential:
- Getting this bill done now sends an important message that policymakers will ensure that the state remains a leader in life sciences and becomes a leader in climatetech;
- These economic development authorizations are affordable and critical to the state’s fiscal year 2025 capital spending plan;
- This bill bolsters Massachusetts’ ability to compete for a better economic future.
