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...

Governor Healey filed her administration’s FY 2023 closeout supplemental budget on September 13th, and versions of the spending bill were passed by the House and Senate on November 8th and 14th, respectively. While the House and Senate bills largely...

On October 19th, the Healey administration announced its plan to pursue the federal funding opportunities available through the Infrastructure Investments and Jobs Act (IIJA), Inflation Reduction Act (IRA), and Creating Helpful Incentives to Produce...

The Fiscal Year (FY) 2024 budget was signed into law on August 9th, but four months into the new fiscal year, work remains for administrative and legislative budget writers to close the books on FY 2023. This work – typically marked by the passage of...

House and Senate conferees have released a compromise tax bill that includes an impactful combination of tax cuts to help people and employers in Massachusetts. The $951 million package includes a total of 17 different tax relief provisions, each of...

Six months after Governor Healey filed her administration’s original tax relief bill and one month after a Fiscal Year (FY) 2024 budget that reflects the cost of a tax relief package was signed into law, House and Senate conferees have yet to produce...

Over the last two years, the federal government has made unprecedented investments in transportation, climate resiliency, and economic development infrastructure through three pieces of legislation: the Infrastructure Investment and Jobs Act (IIJA),...

On August 9th, Governor Healey signed the Fiscal Year (FY) 2024 budget; sending back $272 million in gross spending vetoes ($205 million net), amending 8 outside policy sections, and vetoing one policy section. The Governor’s vetoes eliminate the...

The House and Senate are set to enact a Fiscal Year (FY) 2024 budget, totaling $56.2 billion. The conference committee report was filed on July 30th, one month after the start of the new fiscal year. This year, separate tax bill negotiations, the new...