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After four days of debate, the Senate finalized its $55.9 billion Fiscal Year (FY) 2024 budget; adding $82.2 million in new spending and 34 outside policy sections.The Senate took action on 1,049 amendments through a combination of standalone votes...
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The Fiscal Year (FY) 2024 budget process reached another milestone today with the release of the Senate Committee on Ways and Means (SWM) budget proposal. The $55.9 billion SWM spending plan differs from earlier proposals as it was not released in...
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Major Trends in Local FinanceMunicipal revenues and expenditures increased by 5.7 percent ($1.8 billion) from fiscal year (FY) 2021 to FY 2022; the highest rate of growth since FY 2007. The strong rate of growth in FY 2022 is partially the residue of...
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The House finalized its $54.9 billion Fiscal Year (FY) 2024 budget this week after adding $129.7 million in spending over the course of three days of debate.The House took action on 1,566 amendments through a combination of 7 consolidated amendments...
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The next major step in the FY 2024 budget development process began today with the release of the House Committee on Ways and Mean’s (HWM) budget proposal. Coming just six weeks after Governor Healey filed her administration’s inaugural budget, the ...
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In January, budget-writers upgraded the Fiscal Year (FY) 2023 tax revenue benchmark by just over $150 million, from $39.618 billion to $39.768 billion. Tax collections for the month of March (announced on April 5th) are the first collections to be...
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Since December of 2021, the state has appropriated close to $8 billion in combined federal Fiscal Recovery Funds (FRF) and Fiscal Year (FY) 2021 and 2022 surplus resources to support a range of COVID recovery and economic development initiatives....
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The Healey-Driscoll administration has released its inaugural budget, 8 weeks after being sworn into office. The $54.8 billion spending plan builds in ongoing tax relief, while making major new investments in several critical areas, and continues to...
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