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As lawmakers compile bills that collectively authorize more than $10 billion in borrowing, the Healey administration released a plan Thursday that puts those wish lists in perspective based on how much capital spending taxpayers can actually afford.

The updated five-year capital spending plan released by the Executive Office of Administration and Finance calls for $3.1 billion in fiscal 2025 capital spending across state government, an increase of $212 million from fiscal year 2024. The plan would fund $15.6 billion in projects and programs across its five-year timeline, while holding projected annual debt service as a percent of budgeted revenues at less than 8 percent over the next 10 years.

By comparison, the House just supercharged the $4.1 billion bottom line in Gov. Maura Healey’s long-term housing bond bill, cranking it up to $6.5 billion.  A roughly $3.5 billion economic development bond is on the move along with more than $1 billion for information technology. The bond bills authorize a menu of borrowing options, but the state can only afford so many projects and Administration and Finance told the News Service Thursday that are currently more than $40 billion in outstanding bond authorizations.

The state’s plan for actual capital spending dedicates $2 billion for housing over the next five years, and $400 million in fiscal 2025, which is a 30 percent increase over fiscal 2024.

Housing is a distant third in capital spending areas for the state in fiscal 2025, behind transportation and public works ($1.1 billion), and capital asset management ($719 million).

The updated capital plan reflects which projects are making the cut and poised to move ahead in the coming months and years.