Last week the House and Senate passed separate versions of the final supplemental budget necessary to close out fiscal year 2017. This brief assesses the final FY 2017 budget gap and looks at the strategies the Administration and the Legislature is relying on to end the year in balance.

Last week, the legislature enacted a fiscal year (FY) 2017 supplemental budget to address $144.4M in costs unaccounted for in the original budget. With this spending bill completed, MTF takes stock of the state’s fiscal position as we head into the final three months of the fiscal year.

Today, the Baker Administration announced $97.9 million in midyear budget (9C) cuts.1 These cuts come during a particularly challenging budget year in which revenues have been reduced by $800 million already. This brief provides background on the FY 2017 budget gap and summarizes the budget cuts…

Earlier in October, the Baker Administration identified an estimated midyear budget gap of $294 million. Today, Administration and Finance Secretary Lepore laid out the plan to close that gap and keep this year’s budget in balance. This brief outlines the causes of the budget shortfall and reviews…

On July 31st the Legislature completed its budget override process for FY 2017, finalizing the years General Appropriations Act. In total the Legislature overrode $231.6 million of the $267.1 million originally vetoed by the Governor.

The eventful final stages of the FY 2017 budget process are nearly complete. Last week, Governor Baker signed the Conference Committee budget after vetoing $267.1 million in spending and striking or proposing amendments to 60 budget sections. The legislature has until the end of July to take up…

The FY 2017 Conference Committee report released yesterday reconciles the House and Senate budgets while assuming $750 million less in tax revenue than previous spending plans. This analysis outlines the Conference Committee plan for balancing the budget in light of reduced tax revenues and…

With just days left in the fiscal year, tax revenues currently stand at $310 million below benchmark for FY 2016. This shortfall creates major challenges for ending the current fiscal year in balance and calls into question the accuracy of the tax revenue projection used to build the FY 2017…

Late last week the Senate completed its FY 2017 budget process. During three days of debate, the Senate added $61.4 million in new spending and 181 new policy sections to the budget proposal submitted by the Senate Committee on Ways and Means (SWM). The next stop in the process is the appointment…

The Senate Ways and Means budget fares well when compared with the three fiscal criteria set out by the Foundation to analyze the FY 2017 budget. Sharing the fiscal approach adopted by the House and the Governor, this spending plan proposes restrained spending growth and no new revenue initiatives…