The next major step in the FY 2024 budget development process began today with the release of the House Committee on Ways and Mean’s (HWM) budget proposal. Coming just six weeks after Governor Healey filed her administration’s inaugural budget, the $54.8 billion HWM spending plan makes significant…

Since December of 2021, the state has appropriated close to $8 billion in combined federal Fiscal Recovery Funds (FRF) and Fiscal Year (FY) 2021 and 2022 surplus resources to support a range of COVID recovery and economic development initiatives. Significant resources still remain, but tracking the…

Low wages for educators in the field have left many centers without adequate professional support. In turn, according to the Massachusetts Taxpayers Foundation, the lack of qualified workers in areas of child care has cost Massachusetts families nearly $1.7 billion a year in lost wages.  

Low wages for educators in the field have left many centers without adequate professional support. In turn, according to the Massachusetts Taxpayers Foundation, the lack of qualified workers in areas of child care has cost Massachusetts families nearly $1.7 billion a year in lost wages.

“We need to be thinking critically about the things that the state should be doing — but also very mindful that there is a state-federal partnership,” said Doug Howgate, president of the Massachusetts Taxpayers Foundation, a business-backed budget watchdog. “It’s not feasible for us to say, ‘We’re…

The Healey-Driscoll administration has released its inaugural budget, 8 weeks after being sworn into office. The $54.8 billion spending plan builds in ongoing tax relief, while making major new investments in several critical areas, and continues to build long-term reserves. It includes $1 billion…

Doug Howgate, president of the Massachusetts Taxpayers Foundation, said Healey’s budget shows the state remains in a strong financial condition, giving the administration high marks for its tax relief plan, early education investments and what he called a “transparent approach to tracking and using…

Doug Howgate, president of the business-backed Massachusetts Taxpayers Foundation, said cutting taxes, boosting spending, and socking money away is an amazing trifecta that doesn’t come around very often and makes crafting a budget a lot easier. “You don’t normally see that unicorn,” he said. “…

Budget leaders from the House, Senate, and Administration have agreed on a $40.410 billion consensus tax revenue figure for the fiscal year 2024 budget. Budget makers expect tax revenues to grow by $642 million (1.6 percent) over estimated FY 2023 collections of $39.768 billion. Notably, the…

Following a startling $11.5 billion surge in FY 2021 and FY 2022, tax revenues for this year and next settle into a lower and slower growth pattern as global risks escalate. MTF projects that FY 2023 revenues will top the $39.62 billion benchmark by $75 million and grow to $40.06 billion in FY 2024…