(BOSTON– 5/9/23) The Senate Committee on Ways and Means on Tuesday released a $55.8 billion budget for Fiscal Year 2024 (FY24). As the Commonwealth emerges from the COVID-19 pandemic, the Committee’s budget continues to uphold fiscal responsibility and support the long-term economic health of the state, providing historic levels of investment in education, housing, regional transportation, health care, workforce development, climate, and much more, while centering equity and opportunity as part of a broader, more comprehensive strategy to make Massachusetts more affordable, accessible, competitive, and inclusive. Senator Cindy F. Friedman (D-Arlington) applauded the release of the budget, specifically the positive impact it will have on the health care system in Massachusetts.
“I am proud of the Senate’s proposed budget for Fiscal Year 2024, which builds off prior fiscal year investments to deliver a comprehensive, impactful set of services and programs for the residents of the Commonwealth,” said Senator Friedman, Vice Chair of the Senate Committee on Ways and Means. “I am particularly proud of the provisions that safeguard preventive health care services like cancer screenings and access to medications for chronic conditions, in the wake of a partisan federal court ruling that threatens access to these important, life-saving health care services. In Massachusetts, we will continue to protect access to commonsense health care for all our residents.”
The Committee’s budget recommends a total of $55.8 billion in spending, a $3.4 billion increase over the Fiscal Year 2023 (FY23) General Appropriations Act. This spending recommendation is based on a tax revenue estimate of $40.41 billion for FY24, representing 1.6 per cent growth, as agreed upon during the Consensus Revenue process in January, plus $1 billion from the new Fair Share surtax.… Read more.