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 pandemic hugely disrupted the state’s economy and workforce, as unemployment rates jumped from 3.1 percent in February 2020, one of the lowest in state history, to 17.8 percent in April 2020, the highest in over four decades. During the pandemic, state and federal unemployment benefits were…

The same day that Governor Healey signed the Fiscal Year (FY) 2026 budget, while trimming $130.2 million in spending, she filed a supplemental budget proposing several fiscal management tools to help the state address revenue volatility or unmet spending needs in the months ahead.This brief is the…

On July 4th, Governor Healey signed the Fiscal Year (FY) 2026 budget; sending back $130.2 million in spending vetoes. Inclusive of the Governor’s budget actions, line-item spending in the FY 2026 budget would total $60.9 billion, a $3.1 billion (5.4 percent) increase over the FY 2025 General…

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 less 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…