Please join us for our next Member Briefing, which will provide an update on the state’s finances as we close out FY 2025 and FY 2026 gets underway. The Briefing will review the FY 2026 conference report, Governor Healey’s vetoes, and assess how the federal reconciliation bill is likely to affect…

Join the MTF Tax Thought Leaders Meeting, which will feature an update on tax collection trends and policy proposals in Massachusetts, as well as a presentation on the state of federal tax reform legislation by a member of the KPMG Federal Tax team. The event will provide relevant information to…

The House and Senate are preparing to enact a Fiscal Year (FY) 2026 budget, totaling $61.03  billion in line-item spending. The compromise budget includes $443.4 million less in spending than the final House budget and $395.1 million more in spending than the Senate budget, meaning that the…

Last week, MTF published its first Conference Committee preview for the Fiscal Year (FY) 2026 budget, Reconciling Revenue and Spending Differences Between the House and Senate Final Budgets. That brief summarized the spending and policy proposals put forward by each branch, identified shared and…

The Fiscal Year (FY) 2026 budget development process has now entered one of its final stages, Conference negotiations. The Conference Committee, led by the Chairs of the House and Senate Committees on Ways and Means, must reconcile all spending, policy, and technical differences between the budget…

On May 22nd, the Senate finalized its $61.51 billion Fiscal Year (FY) 2026 budget. Over the course of four days of debate, $81.1 million in new spending was added and 66 outside policy sections were added to their spending plan. The Senate took action on 1,058 amendments through a combination…

5 Things to Know:Senate members filed 1,058 amendments, 42 fewer than in FY 2025 and 9 more than in FY 2024.The fiscal impact of all amendments is at least $2.09 billion.*About 59% (624) of the amendments are earmarks.Approximately 41% (434) of the amendments are outside policy sections, support…

The federal government spends more than $6 trillion each year through its annual budget. The federal budget process shares some similarities with the state, but it also differs in many ways.This resource provides a basic outline of that process and how it might affect Massachusetts.Important Basics…

On May 6th, the Senate Ways and Means (SWM) committee released its Fiscal Year (FY) 2026 budget proposal, six days after the House finalized its version of the spending bill following three days of debate. Spending in the SWM budget totals $61.42 billion, $3.6 billion (6.3 percent) more than the FY…

On April 31st, the House finalized its $61.58 billion Fiscal Year (FY) 2026 budget, after adding $81.9 million in spending and 35 outside policy sections over the course of three days of debate. The House took action on 1,650 amendments through a combination of seven consolidated amendments…