Governor Baker Releases FY2023 State Budget Proposal
January 31, 2022
On January 26, 2022, Governor Baker released his $48.6 billion state budget for FY2023 (H.2), which begins on July 1, 2022. According to Governor Baker, the budget would promote growth and support the ongoing public health response to COVID-19 while increasing total state spending by approximately 0.5% above Fiscal Year 2022.
The proposal would add $749 million to the state's rainy day fund which will bring the total balance of the fund to $6.64 billion by the end of FY2023. The fund currently has a balance of $4.64 billion. This budget is submitted alongside a comprehensive tax relief proposal and proposes full funding for the Student Opportunity Act.
The Governor's proposal includes increases to priorities like RAFT, and HomeBASE with reductions for rental assistance programs including Mass. Rental Voucher Program (MRVP) and Alternative Housing Voucher Program (AHVP).
For more information on the Governor's budget proposal for affordable housing, homelessness prevention, and community development programs:
The budget process now turns to the Massachusetts Housing of Representatives. The House is expected to release its FY2023 budget proposal in April.
CHAPA will be working to expand and optimize the affordable housing, homelessness prevention, and community development programs for in the final FY2023 state budget to ensure access to safe and affordable homes to families during the COVID-19 recovery and beyond.