Gov. Maura Healey filed her first annual spending plan on Wednesday. The invoice asks for $55.5 billion in expenditures however doesn’t increase taxes.
Here is a few of what’s within the governor’s plan.
MassHealth
The state’s healthcare program, MassHealth, accounts for the biggest finances expenditure, coming in a $19.8 billion, with a lot of that price offset by $13.7 billion in federal well being subsidies and the remaining coated by the state’s over $40 billion in anticipated tax income.
HHS
The Department of Health and Human Services and its numerous applications will price the state $9.5 billion in fiscal 2024.
Education
Higher schooling prices and funding for native elementary and secondary faculties underneath Chapter 70 will whole $11.2 billion.
Local support
Unrestricted General Government Aid to the cities and cities is predicted to price $1.3 billion and the state’s debt service one other $2.5 billion. Those expenditures mixed signify 80% of the finances, in line with the Department of Administration and Finance.
The relaxation
The the rest, about $10 billion, will go to Public Safety prices, $1.4 billion, and transportation, one other $1.5 billion, and numerous different applications.
Millionaires’ tax
About $1 billion in income is predicted to return from the so-called Fair Share Amendment, which taxes incomes over $1 million an additional 4%. That cash will likely be spent on completely new schooling and transportation prices, in line with administration and finance.
Source: www.bostonherald.com”