The Healey-Driscoll administration released its Fiscal Year (FY) 2025 budget proposal on January 24, 2024. The Governor’s budget proposes $58.13 billion in total on-budget spending including $1.3 billion in spending supported by income surtax...

The Healey administration filed its Fiscal Year (FY) 2025 budget proposal on January 24th, totaling $58.13 billion. The spending plan includes critical investments in healthcare and education, as well as a notable funding increase for transportation...

On January 24th, the Healey administration filed its budget proposal for Fiscal Year (FY) 2025. The $58.13 billion spending plan includes $1.3 billion in proposed spending supported by income surtax revenues, an increase of $300 million over the $1...

On January 24th, the Healey administration filed its budget proposal for Fiscal Year (FY) 2025. The $58.13 billion spending plan included critical investments in child care, healthcare, and transportation; as well as sizeable increases in support for...

Earlier today, the Healey-Driscoll administration released its Fiscal Year (FY) 2025 budget proposal. The $58.13 billion spending plan includes critical investments in childcare, education, and transportation; and $1.3 billion in spending supported...

Earlier this week, the Healey administration announced a $1 billion tax revenue shortfall for FY 2024, downgrading the revenue benchmark from $40.41 billion to $39.41 billion. They also released a plan to solve the shortfall which includes...

On January 8th, budget leaders from the House, Senate, and Administration announced a $40.202 billion consensus tax revenue figure for the Fiscal Year (FY) 2025 budget, excluding surtax revenue. Budget writers expect tax revenues to grow by $792...

The Healey Administration announced a $1 billion revenue shortfall, attributable to below benchmark revenue collections to date.The FY 2024 revenue benchmark has been downgraded to $39.410 billion.After accounting for the shortfall and the impacts of...

On December 4th, the Massachusetts Taxpayers Foundation (MTF), along with the Department of Revenue (DOR) and other economic experts participated in the annual Consensus Revenue Hearing. The hearing offers administration and legislative budget...

Tax revenues for Fiscal Year (FY) 2024 and FY 2025 settle into a post-COVID pattern of lower growth as the economy slows, impacts from migration and an aging population emerge (Appendix A), and tax reforms take effect. Excluding revenues related to...