January 15, 2025
BUDGET & TAXES > Budget > FY 2026

Biz Group Previews Tough Legislative Decisions

Health Care Outlook Clouded By Tight Revenues, Rising Costs, Steward Fallout

ColinA. Young ,

State House New Service

Wrestling those amped-up spending appetites and underwhelming revenue trends back into alignment will remain a theme as lawmakers and the Healey administration embark on a 2025-26 session that also presents an array of opportunities and challenges around education, health care, transportation, workforce and economic development, and capital spending on infrastructure, the budget and policy analysts at the Massachusetts Taxpayers Foundation said in a comprehensive session preview published Wednesday.

January 10, 2025
BUDGET & TAXES > Budget > FY 2026

FY 2026 Consensus Tax Revenue Agreement

On January 9th, budget leaders from the House, Senate, and Healey administration announced a $43.614 billion consensus tax revenue figure for Fiscal Year (FY) 2026, including $41.214 billion in non-surtax revenue and $2.4 billion related to the income surtax. Non-surtax revenues are expected to grow by $907 million (2.25 percent) over estimated FY 2025 collections.

December 11, 2024
BUDGET & TAXES > Budget > FY 2026

FY 2025 Fiscal Update & FY 2026 Consensus Revenue Hearing

On December 2nd, 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 leaders an opportunity to assess current revenue assumptions for Fiscal Year (FY) 2025 and evaluate the resources that will be available to support budgeted spending in FY 2026. This brief uses the Consensus Revenue Hearing as the backdrop to examine potential revenue collections in both years. 

December 03, 2024
BUDGET & TAXES > Budget > FY 2026

Problems predicting the fiscal future

Kelly Garrity ,

Politico

“We don’t know what’s going to happen,” Massachusetts Taxpayers Foundation President Doug Howgate said at the hearing.

“There’s no need to kind of panic or take action for things that are unknown,” Howagate added. But he cautioned budget writers against planning for big spending growth next budget cycle, suggesting the state officials only increase spending by around 3 percent, as they did for FY25 after facing mid-year budget cuts in FY24.

December 02, 2024
BUDGET & TAXES > Budget > FY 2026

FY 2025 AND FY 2026 TAX REVENUE FORECAST – RISKS ABOUND

Fiscal Year (FY) 2025 and FY 2026 tax revenues are projected to rebound to positive growth, after non-surtax revenue declines in FY 2022 and FY 2023; but overarching questions about the global economy and federal policy changes cloud the state’s larger fiscal picture. The Massachusetts Taxpayers Foundation (MTF) projects non-surtax revenues of $40.9 billion in FY 2026, an increase of 3.1 percent over the revised FY 2025 estimate of $39.7 billion.

BUDGET & TAXES > Budget > FY 2026

MTF's first Member Briefing of 2025 presents an overview of Governor Healey's FY 2026 budget

January 23, 2025.2:00 PM–3:00 PM

Debbie Carrol, Dcarrol@masstaxpayers.org

The overview will include major spending and policy proposals of Governor Healey's FY 2026 budget and how it compares to the FY 2025 budget.

Register here to attend virtually