Lt. Gov. Karyn Polito and Gov. Charlie Baker during the signing. Commonwealth of Massachusetts.
HYANNIS – A new state budget of roughly $53 billion has been signed by Gov. Charlie Baker, roughly a month into the 2023 fiscal year.
Baker said that the budget makes big strides in addressing homelessness, child care, and college financial aid in a sustainable manner.
“With the Commonwealth in a historically strong fiscal position, the FY23 budget supports tax relief for hundreds of thousands of taxpayers, while making record investments in education and local aid,” said Baker.
“Since coming into office, our Administration has worked closely with the Legislature to ensure the budget is structurally sound and protected from unpredictable economic fluctuations, and I am pleased to sign another budget that maintains this commitment while making investments help Massachusetts’ families and communities grow and thrive.”
$315 million dollars of the budget will support permanent tax reductions for state residents expected to be enacted through separate, pending legislation.
The budget also makes a deposit into the Stabilization Fund of close to $1.5 billion, which would increase the total fund to $8.4 billion.
In addressing child care, Baker said that the budget makes record investments.
“It’s the largest early education child care budget we’ve ever done. Its $1.2 billion including a $250 million stabilization grant fund and a $60 million increase in rates for center base providers,” said Baker.
Baker vetoed just $475,000 in spending in the budget.
The Associated Press contributed to this article.
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