“Governor Healey has filed a Fiscal Year 2025 budget that calls for significantly increased spending across state government, but those aspirations need to be tempered by the fiscal realities facing the Commonwealth. After six-plus months of tax revenues coming in lower than expected, Governor Healey has already implemented hundreds of millions of dollars in mid-year cuts and downgraded projected revenues by $1 billion for Fiscal Year 2024. At the same time, funding for the migrant shelter crisis continues to drain much-needed revenues that would otherwise have been spent on other programs and services, with no end in sight, as evidenced by the Governor’s companion piece of legislation filed today that would empty the Transitional Escrow Fund to pay for this program. It’s telling that using the $863 million available in this fund will still leave a projected funding shortfall of about $91 million, a number that is sure to grow unless meaningful reforms are implemented. The members of the Republican Caucus look forward to reading through the Governor’s budget, participating in the hearing process, and learning more about her specific spending plans to ensure that the interests of the state’s taxpayers are protected.”
