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
Fiscal Year 2025 Budget
2025 Massachusetts Budget Showcases Accomplishments of Fair Share Amendment
July 29, 2024
As the budget making process for the current fiscal year finishes, Massachusetts would be in a very different place if voters hadn’t approved the Fair Share Amendment in late 2022 to support education and transportation.
Conference Committee
Pre-Conference Analysis: With Fair Share Revenue Surpassing Expectations, More Money Could Go to Education and Transportation in House and Senate Compromise
June 18, 2024
Going into this year's Conference Committee, one major story is that revenue collection from the Fair Share "millionaire's tax" is much higher than originally projected. In settling the differences between the House and Senate budget proposals, lawmakers could confidently revise their Fair Share revenue estimate for FY 2025 upwards by several hundred million dollars.
Senate Budget
With Fair Share Dollars, Senate Ways and Means Proposes Bold Improvements, Though Problems with Student Opportunity Act Remain
May 8, 2024
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
May 1, 2024
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
April 10, 2024
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
January 24, 2024
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
January 17, 2024
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?
October 30, 2023
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
September 26, 2023
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
July 31, 2023
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.
