On August 5, 2025, the Massachusetts Department of Revenue reported to the Legislature that preliminary revenue collections for July totaled $2.69 billion; $7 million or 0.3% more than actual collections in July 2024. July is the first month of the new fiscal year, and the Department of Revenue notes that these results may not necessarily be representative of the trend for the entire year. The state budget increased spending for FY2025 by about 5%. The Healey Administration and lawmakers will continue to monitor revenue trends over the next few months to determine what steps they may need to take to maintain a balanced budget.