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ARTICLE · 28 JANUARY 2022

Governor Baker Releases Eighth Budget Recommendation

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

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Today, Governor Charlie Baker released his Fiscal Year 2023 (FY2023) budget recommendations. This is the unofficial start of "budget season" in Massachusetts that will culminate with...

United StatesGovernment, Public Sector
Daniel Connelly
Daniel Connelly
Kaitlyn C. Sprague
Kaitlyn C. Sprague
Taylor C. Shepherd
Taylor C. Shepherd
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Today, Governor Charlie Baker released his Fiscal Year 2023 (FY2023) budget recommendations. This is the unofficial start of "budget season" in Massachusetts that will culminate with a legislative conference committee agreeing on a budget bill sometime around late June or early July.

The release of the $48.5 billion Governor's budget comes at a time when the state is bringing record amounts of revenue. FY2021 ended with a multi-billion dollar surplus. The current fiscal year, FY2022, is continuing to see monthly revenue receipts exceed monthly estimated amounts. And the Governor's FY2023 budget recommendations are based on an expected 2.7% growth in revenues. In addition, the state received significant funding from the federal government and has not yet allocated all of these funds.

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