5 Things to Know:

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

On January 22nd, the Healey-Driscoll administration filed its budget proposal for Fiscal Year (FY) 2026. The $62.07 billion 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 for FY 2025 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.

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 194^th 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 September 11th, Governor Healey filed her administration’s closeout supplemental budget for Fiscal Year (FY) 2024; roughly two months after the official last day of the fiscal year. A closeout supplemental budget is filed and passed each year; its purpose being to resolve all outstanding deficiencies and ensure that the fiscal year ends in balance. The enactment of this final spending bill will allow the comptroller to “close the books” on FY 2024 and finalize mandated financial reports.

On July 29th, Governor Healey signed the Fiscal Year (FY) 2025 budget; sending back $316.8 million in gross spending vetoes ($248 million net). Inclusive of the Governor’s cuts, line-item spending in the FY 2025 budget would total $57.78 billion, a $1.7 billion (3.1 percent) increase over the FY 2024 GAA.

She also returned three policy sections with amendment, but did not veto any sections in full.