Publications: Budget

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  • February 6 2019
    Massachusetts Taxpayers Foundation President Eileen McAnneny today reacted to the preliminary tax revenue totals announced yesterday by the Massachusetts Department of Revenue, which fell short of the year-to-date tax benchmarks by $403 million.
  • February 4 2019
    Governor Baker released a spending plan that totals $47.5 billion which includes both pre-budget transfers and line-item appropriations for fiscal year (FY) 2020. The proposal is noteworthy for the inclusion of several policy initiatives along with the introduction of new resources to pay for the increased spending.
  • December 5 2018
    Tax revenues will increase by approximately $680 million, or 2.4 percent, to $29.47 billion in fiscal 20201 according to a new forecast released today by the Massachusetts Taxpayers Foundation at the state’s annual consensus revenue hearing.
  • July 26 2018
    Today Governor Baker signed a $41.8 billion budget. The Governor exercised his veto powers by eliminating $48.9 million in spending while proposing amendments to 19 of the 110 policy sections included in the conference budget.
  • July 18 2018
    Today, the House and Senate released the fiscal (FY) 2019 budget conference report, which will now go to Governor Baker for his review. The $41.88 billion budget reconciles the House and Senate spending plans eighteen days after the start of the new fiscal year.
  • June 26 2018

    Fiscal year (FY) 2019 begins on July 1st and budget conferees in both the House and Senate are working to complete their compromise budget in time for the start of the year. This brief outlines several of the issues that are being negotiated and examines challenges that complicate resolution.

  • June 19 2018
    Fiscal year (FY) 2018 ends in less than a month and final action to officially close out the year will likely occur before legislative session ends at the end of July. For the first time in several years, the year will end with tax revenues that significantly exceed expectations.
  • May 25 2018

    The Senate has concluded its FY 2019 budget debate. Over three days, the Senate considered 1,196 amendments, adding $75.5 million in new spending and 125 policy sections to the original Senate Ways and Means (SWM) proposal. The final Senate budget includes $46.02 million in total spending, $21.6 less than the final House budget.

  • May 10 2018
    The Senate Ways and Means Committee (SWM) released its $45.95 billion budget proposal for fiscal year (FY) 2019 today. This brief provides an overview of the major policy and spending provisions proposed by SWM and compares it with the FY 2019 plans put forward by the Administration and the House. The SWM budget will be debated by the full Senate the week of May 21st.