Fiscal year 2023 began on July 1st, but policymakers have yet to close the books on FY 2022 which requires disposing of a significant budget surplus. This Brief provides an estimate of the surplus and examines how it fits in to the larger fiscal picture.

Budget conferees are negotiating spending, revenue and policy differences between the House and Senate proposals in order to present a final budget to Governor Baker for the start of fiscal year 2023. For the second straight year, conferees must also significantly revise the budget’s tax revenue…

The Senate completed budget deliberations this week, finalizing a $49.9 billion budget after three days of deliberations. The Senate adopted 514 of the 1,178 amendments filed by individual Senators. The final Senate budget adds $93.3 million in spending and 104 new policy sections.

The Senate begins its budget process today, with the release of the Senate Ways and Means proposal. The SWM budget follows a similar script to the House, foregoing a tax relief proposal put forward by Governor Baker and including hundreds of millions in new investments. Like earlier proposals, the…

The Massachusetts Taxpayers Foundation, a nonpartisan watchdog group, endorsed Baker’s plan, calling it the right move to keep the commonwealth competitive.

The Massachusetts Taxpayers Foundation helpfully adds it all up: The bill includes 614 environmental, climate, and economic development earmarks, and guarantees every municipality in the state at least $250,000.

The House wrapped up its budget deliberations this week, finalizing a $49.8 billion budget, after adding $129.6 million in spending through amendment over the course of 3 days of session.  The House acted on a record number of budget amendments this year, disposing of 1,522 riders through 7…

This MTF policy call will provide a comprehensive overview of the FY 2023 House Ways & Means budget proposal. We will look at new spending and policy initiatives to be considered by the House, assess the status of Governor Baker’s tax relief proposal, and consider how the bill fits into the…

The next stage in the fiscal year (FY) 2023 budget begins today with the release of the House Ways and Means (HWM) committee’s budget proposal. Like Governor Baker’s proposal released in January, the HWM budget makes historic investments in K-12 education, while continuing to build the…

Governor Baker has put forward a $2.4 billion supplemental budget that uses $1.6 billion of the state’s fiscal year (FY) 2022 anticipated revenue surplus and several federal revenue sources to maintain and expand several COVID-19 related programs, cover ongoing public costs and increase funding for…