Major Trends in Local Finance Municipal 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...

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...

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 ...

Today, the House Committee on Ways and Means released their tax relief proposal. The plan includes 7 major provisions and carries a fiscal impact of $654 million in FY 2024. When fully-phased in after 3 years, the annualized cost of the proposal is ...

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...

Will MBTA Labor Shortages Impede its Future? Like transit agencies across the nation, the MBTA is struggling to find the talent it needs to deliver full bus and rapid transit services today, let alone the expanded services being planned or...

The Fiscal Year (FY) 2024 budget development process is well underway, but with about 4 months remaining in FY 2023 this brief takes a fresh look at the state’s current fiscal picture. Based on current spending and revenue collections to date, the...

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....

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...