Governor Moore Releases $63.1 Billion Budget for FY 2025 – Make Maryland Safer, More Affordable, More Competitive

Governor Moore released details yesterday of the Moore-Miller Administration's Fiscal Year 2025 proposed budget. The $63.1 billion plan follows a fiscally responsible framework to respond to the state’s budget challenges while making record investments in priorities that will make Maryland safer, more affordable, more competitive, and the state that serves. “This budget makes our values [...]

Governor Moore Releases $63.1 Billion Budget for FY 2025 – Make Maryland Safer, More Affordable, More Competitive2024-01-18T12:12:48-05:00

Committee Chairs Consider Increased Taxes-Revenues to Tackle Growing Budget Deficits

As operating budget deficits increase and the structural shortfall is projected to grow to $2.7 billion by fiscal year 2029, the Chairs of House and Senate budget and revenue committees look to new and increased revenue streams to make ends meet. As reported by the Daily Record, Senate Budget and Taxation Committee Chair Guy Guzzone [...]

Committee Chairs Consider Increased Taxes-Revenues to Tackle Growing Budget Deficits2023-12-27T12:45:05-05:00

Budget Outlook Has Legislators Considering Budget Reductions and Revenue Enhancements

At this week’s Spending Affordability Committee meeting, the Maryland Department of Legislative Services (DLS) said fiscal 2024 is projected to end with a fund balance of $528 million, with ongoing revenues exceeding ongoing spending by $125 million. A $413 million structural deficit is anticipated for fiscal 2025. Structural challenges continue for the remainder of the forecast [...]

Budget Outlook Has Legislators Considering Budget Reductions and Revenue Enhancements2023-11-09T16:15:39-05:00

Fiscal 2023 Budget Document – Joint Chairmen’s Report Now Available

The Report on the Fiscal 2023 State Operating Budget (SB 290) and the State Capital Budget (SB 291) and Related Recommendations, otherwise known as the “Joint Chairmen’s Report,” is now available on the General Assembly website. This report summarizes the final actions taken by the Senate Budget and Taxation Committee and the House Appropriations Committee [...]

Fiscal 2023 Budget Document – Joint Chairmen’s Report Now Available2022-05-18T11:16:15-04:00

Governor, Legislative Leaders Sign 140 Bills into Law

Governor Hogan, joined by House Speaker Adrienne Jones and Senate President Bill Ferguson, signed an additional 140 bipartisan bills into law May 16, including the state’s historic capital budget, as well as measures to cap the cost of insulin, expand the state’s commitment to fight dementia and Alzheimer’s disease, and permanently allow paramedics and EMTs [...]

Governor, Legislative Leaders Sign 140 Bills into Law2022-05-17T12:42:16-04:00

General Assembly Passed $61 Billion Budget, Governor and Legislative Leaders Sign Tax Cut Legislation

The Maryland General Assembly passed a $61 billion budget Friday that includes expansions of health care services, funding for public education, and tax cuts on baby products and other health care items, as well as for retirees in Maryland. Governor Hogan signed the tax cuts in a bill signing ceremony alongside President Ferguson, Speaker Jones, [...]

General Assembly Passed $61 Billion Budget, Governor and Legislative Leaders Sign Tax Cut Legislation2022-04-04T13:39:26-04:00

Maryland Board of Revenue Estimates Increased Revenue Projections by $1.6 Billion

The Board of Revenue Estimates voted to increase the revenue projections for the current and upcoming fiscal years by $1.6 billion. The Board - comprised of Comptroller Peter Franchot, Treasurer Dereck Davis and State Budget Secretary David Brinkley - increased the state’s tax revenue projection for the current fiscal year to $22.5 billion, an $867 [...]

Maryland Board of Revenue Estimates Increased Revenue Projections by $1.6 Billion2022-03-11T17:37:45-05:00

Governor Hogan Submits $480 Million Supplemental Budget – Funds Blueprint for Maryland’s Future Initiatives, First Responders, Renters and Homeowners, and Rural Marylanders

Governor Larry Hogan submitted a $480 million supplemental budget to the General Assembly for Fiscal Year 2023, including funding for first responders, economic development in rural counties, renters and homeowners, and restores Blueprint funding for Baltimore and Prince George's County school systems. From the Governor's press release: “With this supplemental budget, we are providing critical [...]

Governor Hogan Submits $480 Million Supplemental Budget – Funds Blueprint for Maryland’s Future Initiatives, First Responders, Renters and Homeowners, and Rural Marylanders2022-02-23T11:23:57-05:00

Governor Hogan’s Proposed $58.2 Billion FY 2023 Budget Focuses on Education, Tax Relief, Economic Recovery

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 [...]

Governor Hogan’s Proposed $58.2 Billion FY 2023 Budget Focuses on Education, Tax Relief, Economic Recovery2022-01-20T13:16:36-05:00

Governor Hogan’s FY 22 Budget Focuses on Education, Tax Relief, Economic Recovery

Governor Hogan released details today of his Fiscal Year 2022 proposed budget. As described in the Governor's press release, the budget "makes record investments in K-12 education and public health, provides substantial tax relief to struggling Marylanders and small businesses, expands resources for crime prevention and fighting the opioid epidemic, fully funds Chesapeake Bay restoration, [...]

Governor Hogan’s FY 22 Budget Focuses on Education, Tax Relief, Economic Recovery2021-01-19T16:06:11-05:00
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