THE REVERE ADVOCATE – FRIDAY, MAY 5, 2023 Page 3 MASSACHUSETTS HOUSE PASSES FY24 BUDGET, MAKES INVESTMENTS TO SUPPORT FAMILIES Highlights include permanent funding for universal school meals, free community college for qualifying residents, and investments in child care funded by the authorization of online purchasing options for the state lottery. BOSTON – On Wednesday, the House’s Fair Share Investments Massachusetts House of Representatives passed its Fiscal Year 2024 (FY24) budget. This budget responds to the needs of residents and makes targeted investments that provide support for families across the Commonwealth. Funded at $56.2 billion, the House’s FY24 budget provides strong support for the Commonwealth’s cities and towns, and among many critical investments, includes signifi cant funding for education, transportation, health care, housing, and workforce development. “From critical investments in health care and workforce development, to funding for new initiatives that are designed to increase educational opportunities, better support working families, and provide for a safer and more reliable public transportation system, the House’s FY24 budget will help to make Massachusetts more aff ordable for residents, while allocating support for the Commonwealth’s most consequential institutions,” said House Speaker Ronald J. Mariano (D-Quincy). “I want to thank Chairman Michlewitz for the indispensable role that he played in this budget process, as well as the Committee on Ways and Means, and all my colleagues in the House, for working tirelessly to get this done.” “This budget builds off the successes of the last few years by prioritizing our residents. Whether it is greater investments into programs like housing stability, food security, or early education, these initiatives are a refl ection of our shared values,” said Representative Aaron Michlewitz, Chair of the House Committee on Ways & Means (DBoston). “By reinvesting in the people of the Commonwealth, we will continue to assist those recovering from this pandemic while making our economy more competitive and equitaEduca on Transporta on Universal School Meals $161,000,000 MBTA Capital Investments $250,000,000 Green School Works $100,000,000 Highway Bridge Preserva on MassGrant+ High Demand Targeted Scholarships JEFFREY TURCO State Representative $84,000,000 $50,000,000 Regional Transit Funding & Grants Electrifi ca on MBTA Workforce/Safety Reserve C3 Stabiliza on Grants $40,000,000 Water Transporta on Income Eligible Waitlist $25,000,000 MBTA Means-Tested Fares $20,000,000 MassReconnect _ Endowment Match TOTAL $20,000,000 $500,000,000 sive tax relief package targeted at residents across all income levels that would provide $654 million in direct fi nancial relief in FY24. As a result of the same fiscally responsible leadership that has allowed for tax relief, the state’s Stabilization Fund is estimated to stand at a record high JESSICA GIANNINO State Representative ble for years to come. I want to thank Speaker Mariano for his leadership during this budget process, as well as my Vice-Chairs Ann-Margaret Ferrante and Patricia Haddad, and the entire membership of the House for their thoughts and guidance over the last few months to make this a more successful and well-rounded budget.” Due to the Commonwealth’s strong revenue collections, including the additional estimated revenue from the voter-approved Fair Share Constitutional Amendment, the House’s FY24 budget provides increased fi nancial support in a number of critical areas. Additionally, the House recently passed a comprehenLawrence A. Simeone Jr. Attorney-at-Law ~ Since 1989 ~ * Corporate Litigation * Criminal/Civil * MCAD * Zoning/Land Court * Wetlands Litigation * Workmen’s Compensation * Landlord/Tenant Litigation * Real Estate Law * Construction Litigation * Tax Lein * Personal Injury * Bankruptcy * Wrongful Death * Zoning/Permitting Litigation 300 Broadway, Suite 1, Revere * 781-286-1560 lsimeonejr@simeonelaw.net *Annual Percentage Yield (APY) is accurate as of the date posted and is subject to change without notice. APY assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings. A penalty may Member FDIC | Member DIF All Deposits Are Insured In Full. of $9.04 billion. “The House passed budget makes important investments in our Commonwealth and our communities while maintaining a fi scally responsible spending plan that will protect against worsening economic trends. I am proud to have worked with Representative Giannino to have successfully advocated for funding _ TOTAL for the Revere Police Department to operate child safety programs and to ensure safety on Revere Beach with increased State Police patrols during the summer months,” said Representative Jeff rey Rosario Turco (D-Winthrop). “I want to thank Speaker Mariano and Chairman Michlewitz for their leadership during this year’s budget process. I am proud of the House’s budget because it makes so many important investments in every corner of our community, from our most vulnerable residents to our environment.” said Representative Giannino (D-Revere). “I am happy to have secured vital funding 4.75 9 Month CD Savings make dreams possible. NO MATTER WHAT YOU ARE SAVING FOR, THIS RATE IS HARD TO IGNORE. Here’s your chance to run the numbers in your favor. Everett Bank’s 9 Month CD with an amazing 4.75% APY* gets you closer earnings with Everett Bank’s 9 Month CD. Go to everettbank. com to easily open your account on-line in just minutes. %APY* _ _ $500,000,000 for the City of Revere in a variety of sectors including public safety, programs for our youth and organizations that assist our residents facing housing insecurities. I am thankful for the partnership and advocacy of Representative Turco in bringing this funding home.” The budget passed today uses $1 billion in anticipated Fair Share revenue, funding that this budget splits evenly between education and transportation initiatives. Revenue from this change will supplement existing funding for education and transportation investments, and INVEST | SEE Page 16 $70,000,000 $65,000,000 $10,000,000 $5,000,000 $100,000,000
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