Publications: FY 2018

View more in FY 2018

  • 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.
  • January 8 2018

    The fiscal year (FY) 2019 budget process is officially underway, commencing last month with the annual Consensus Revenue Hearing. The testimony provided at the hearing touched on a number of issues – including slow revenue growth, insufficient reserves and growing nondiscretionary costs – that have contributed to the budget challenges of recent years. The testimony also highlighted several potential policy changes at both the state and national level that will make developing the FY 2019 budget particularly difficult. This brief poses ten major questions that budget makers will face in the coming months.

  • December 15 2017

    Heading toward the halfway mark in fiscal year (FY) 2018, the state’s short-term fiscal outlook remains unclear. At this point in the fiscal year, the state budget appears to be in balance, with known spending needs largely offset by stronger than expected revenue collections. However, several potential budget problems are lurking on the horizon while a change in revenue trends or a surge in capital gains collections could quickly eliminate any revenue surplus. This brief outlines the current fiscal situation and highlights issues to watch in the months ahead.

  • July 18 2017
    Governor Baker signed the FY 2018 budget after vetoing $320.3 million in spending and striking or amending 34 policy sections. The Legislature now has until the end of formal sessions this year – likely in November – to override vetoes and finalize the FY 2018 General Appropriations Act (GAA).
  • July 7 2017
    Today, the Legislature voted to enact a $40.2 billion budget for FY 2018. This year’s budget reconciliation process was hampered by several major challenges – most notably the need to reduce expected tax revenues from the amount used in both the House and Senate plans.
  • July 7 2017
    The undersigned employer groups, representing businesses from all sectors, of all sizes and from all parts of the Commonwealth oppose the final budget plan calling for a new health assessment on employers without significant reforms to manage the cost of health care.
  • June 21 2017

    For the second straight year, budget conferees are working to finalize a budget for July 1st while grappling with how best to adjust the fundamental tax revenue assumption used to balance the budget. This brief examines the challenges budget conferees and the Administration face and how these challenges differ from their experience finalizing the FY 2017 budget.

  • June 5 2017
    As you begin your deliberations, we respectfully request that you omit, in Section 1B, line-item 0710-0002 and Section 15 of Senate bill 2076, which would establish and fund of a tax expenditure review commission under the control of the State Auditor. As organizations that represent thousands of Massachusetts taxpayers, we strongly oppose this proposal.
  • May 26 2017
    The Senate finalized its fiscal year (FY) 2018 budget yesterday after three days of debate. Through the amendment process, the Senate added $52.2 million in new spending and added 150 policy sections to the spending plan released from the Senate Committee on Ways and Means last week.
  • May 16 2017
    The Senate Ways and Means Committee (SWM) released a $45.13 billion budget proposal for fiscal year (FY) 2018 today. This brief provides the Foundation’s initial analysis of major spending and policy provisions in this budget plan.