$58B budget agreement provides for significant levels of investment in education, regional equity, and transportation
(BOSTON–7/19/24) Today, the Legislature enacted a $58 billion budget for Fiscal Year 2025 (FY25), resolving differences between the versions of the budget passed by the House of Representatives and the Senate earlier this year. The FY25 conference committee report maintains fiscal responsibility while delivering historic levels of investment in every level of education, transportation regional equity, workforce development and health care, reflecting the Legislature’s ongoing commitment to delivering on affordability for residents and economic competitiveness for the Commonwealth.
“The Commonwealth’s budget for Fiscal Year 2025 agreed to by the Legislature today provides for a high level of quality for the programs that our municipalities and residents rely on,” said Senator Cindy F. Friedman (D-Arlington), Vice Chair of the Senate Committee on Ways and Means. “This is a budget that balances fiscal constraints with targeted, impactful investments that ensure statewide stability and regional equity. As we grapple with rising costs and access challenges within the Massachusetts health care system, I am especially proud that this budget utilizes tools to maximize our health care dollars for the facilities and providers that serve our most vulnerable residents. I am excited by this robust final budget that will benefit all of Massachusetts and bring significant funding for local projects in the 4th Middlesex district.”
The FY25 budget recommends a total of $58 billion in spending, a $2 billion increase over the Fiscal Year 2024 (FY24) General Appropriations Act (GAA).… Read more.