Governor Hogan released details yesterday of his Fiscal Year 2023 proposed budget. As described in the Governor’s press release, the surplus budget “strengthens the state’s Rainy-Day Fund to record levels, delivers major tax relief to retirees and working families, expands relief for vulnerable Marylanders, makes record investment in K-12 education and school construction, increases funding for the Maryland Park Service, fully funds Chesapeake Bay restoration, and provides record funding for addressing mental health and substance use disorders.”
The Governor’s press release highlights the major spending areas in the proposed budget – K-12 Funding, School Construction, Higher Education, Capital Budget and Infrastructure, Environment, Chesapeake Bay and Natural Resources, Public Health, Public Safety, Mental Health and Substance Abuse Disorders, Housing and Community Development, and Government Operations and Preparedness.
The budget also contains a $1.3 billion structural surplus that includes the five-point framework the Governor committed to last fall. The five-point plan would include increasing the state’s rainy-day fund, providing tax relief for retirees and working families, increasing relief benefits for underserved Marylanders, and salary enhancements for state employees.
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