State Budget

The state’s budget is a $50 billion+ opportunity, each year, to recommit to our shared values. MassBudget provides analysis and insights into how we can use the state budget as a tool to advance racial and economic justice in every corner of the Commonwealth.

Budget Browser

State Budget 101

Senate Budget

With Fair Share Dollars, Senate Ways and Means Proposes Bold Improvements, Though Problems with Student Opportunity Act Remain

On May 7th, the Senate Ways and Means (SWM) Committee released its proposed budget for the Fiscal Year 2025. Like last month’s House budget proposal, the SWM proposal would make new investments in education and transportation, made possible through the Fair Share surtax. Faced with limits to available revenue to date, SWM makes some different choices.

House Budget

Despite Revenue Challenges, Fiscal Year 2025 House Budget Proposal Strives to Meet Current Needs

The House finalized its Fiscal Year 2025 (FY 2025) state budget proposal on Friday, April 26, adding about $100 million in spending over the HWM proposal. It seeks to address current needs and introduces some new practices while also leaving on the table some questions and missed opportunities.

MassBudget’s Look at the Fiscal Year 2025 House Ways and Means Budget Proposal

The House Ways and Means (HWM) Committee released its proposed budget for the Fiscal Year (FY) 2025. The proposal reflects both an increase in anticipated collections from the Fair Share “millionaire” tax and flat growth in other tax collections this fiscal year. It supports growing investments in many areas while imposing cuts or failing to keep up with inflation in several others. 

Governor's Budget

MassBudget’s Look at the Fiscal Year 2025 Governor’s Budget Proposal

The Governor’s Fiscal Year (FY) 2025 budget proposal supports important investments in our Commonwealth, especially through new Fair Share dollars. This is despite the fact that little additional tax revenue from traditional sources is available this year for the critical public investments that make our state more affordable and equitable and help all of us thrive.

Fiscal Year 2024 Highlights

State Budget Cuts Impact Lowest-Income Children

When state budget shortfalls hit, we should not balance the budget on the backs of kids living in Deep Poverty.

Who Benefits from the New Tax Package?

The new tax package is the largest set of tax changes the Commonwealth has seen in some 15 years and will cost the Commonwealth over $1 billion each year in forgone tax collections. It includes some elements that improve tax fairness, and racial and economic equity, as well as other elements that make our state tax system less fair.

MassBudget Statement on the 2023 Tax Relief Package

Today, the conference committee presented the biggest package of tax changes in 15 years. We commend them for taking important steps to improve affordability for low- and middle-income households in Massachusetts. At the same time, our state fails to move toward racial and economic equity when we give away hundreds of millions of dollars to the richest families and large, profitable corporations.

Statement by MassBudget on the FY2024 Budget

Today the legislature passed a budget bill for Fiscal Year 2024. The $56.26 billion budget now goes to Governor Healey. Enabled by new revenue from the Fair Share Amendment that the voters passed last November, the FY2024 budget makes important investments in education and transportation.
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