The House Ways and Means (HWM) committee released its Fiscal Year (FY) 2026 budget proposal earlier today; a spending plan that totals $61.5 billion, $3.7 billion (6.4 percent) more than the FY 2025 General Appropriations Act (GAA) and $580 million (0.9 percent) less than Governor’s Healey’s budget.
On April 9th, the House of Representatives passed House Bill 55, An Act making appropriations for the fiscal year 2025 to provide for supplementing certain existing appropriations and for certain other activities and projects. The $1.32 billion spending bill is the House version of the Innovation and Capital Fund supplemental budget, and includes $1.26 bil
Chairman Michlewitz, Chairman Rodrigues, members of the House and Senate Committees on Ways and Means,
Thank you for the opportunity to testify today on House Bill 55, An Act making appropriations for the fiscal year 2025 to provide for supplementing certain existing appropriations and for certain other activities and projects, also known as the surplus surtax supplemental budget.
On January 22nd, the Healey-Driscoll administration filed its budget proposal for Fiscal Year (FY) 2026. The $62.07 billion spending plan increases spending over the FY 2025 General Appropriations Act (GAA) by $4.3 billion (7.4 percent) and over the administration’s estimated spending level of $60.26 billion by $1.8 billion (2.1 percent).
On January 22nd, the Healey-Driscoll administration filed its budget proposal for Fiscal Year (FY) 2026. The $62.07 billion spending plan increases spending over the FY 2025 General Appropriations Act (GAA) by $4.3 billion (7.4 percent) and over the administration’s estimated spending level of $60.26 billion by $1.8 billion (2.1 percent).
Today, the Healey-Driscoll administration released its Fiscal Year (FY) 2026 budget proposal. The $62 billion spending plan increases spending over the FY 2025 GAA by $4.3 billion (7.4 percent) and over the administration’s estimated spending level of $60.256 billion by $1.8 billion (2.1 percent). Spending increases are reflected in the healthcare, education, and transportation sectors driven by non-discretionary cost increases and investments supported by the income surtax.
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.
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.
As the work of the 194th General Court gets underway, MTF is publishing its 2025 – 2026 Legislative Session Preview. The preview includes 101 primers on the Operating Budget and Capital Investment Plan development processes, as well as seven topic-specific policy briefs that cover a range of public finance and policy issues.
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.
