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ARTICLE · 29 JANUARY 2021

Governor Baker Releases FY2022 Budget Bill

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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During his annual State of the Commonwealth address, Governor Charlie Baker highlighted the heroic work of frontline workers and first responders throughout the COVID-19 pandemic...

United StatesStrategy
Steven Baddour
Steven Baddour
Daniel Connelly
Daniel Connelly
Caitlin R. Beresin
Caitlin R. Beresin
Kaitlyn C. Sprague
Kaitlyn C. Sprague
Taylor C. Shepherd
Taylor C. Shepherd
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During his annual State of the Commonwealth address, Governor Charlie Baker highlighted the heroic work of frontline workers and first responders throughout the COVID-19 pandemic, while reminding the Commonwealth that though we are close, we are not out of the dark quite yet. Gov. Baker's FY2022 ("H1") budget recommendations support that perspective and indicates the state is still feeling the economic impacts of the pandemic. The legislation authorizes a $1.6 billion withdrawal from the state's Stabilization Fund and a $300 million spending cut to support the bill's $45.6 billion FY2022 budget bottom line. In addition to the $1.6 billion withdrawal from the Stabilization Fund, H1 projects tax revenue to increase 3.5% over FY2021 collections while avoiding any new taxes levied on residents of Massachusetts. H1 also outlines several policy initiatives, which are highlighted below:

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