The Board of Revenue Estimates (BRE) have unanimously approved revenue projections of $18.7 billion for FY 2021 and $19.7 billion for FY 2022. The FY 2021 forecast reflects a $1.4 billion increase (and a $2.1 billion increase for FY 2022) from unofficial estimates that the Board heard at a special nonvoting session in May to [...]
The budget committees of the General Assembly, Senate Budget and Taxation and House Appropriations, received a budget update and briefing by the Department of Legislative Services (DLS) and Department of Budget and Management (DBM) on the State’s budget outlook for fiscal years 2021 and 2022, and reductions for fiscal year 2021. Using the more favorable [...]
Governor Hogan has proposed $1.45 billion in budget cuts across state government to offset revenue losses due to the coronavirus pandemic. Reductions include eliminating employee raises, cutting vacant positions and reducing funding for programs ranging from school security to prosecuting violent crime in Baltimore. The proposed changes were released in advance of a meeting Wednesday, [...]
Governor Hogan recently introduced his budget plan for fiscal 2020. As reported by the Washington Post, The $46.6 billion budget proposal — a 4 percent increase over last year’s fiscal plan — raises the pay of state employees by at least 3 percent, extends a tax relief to the retired military, police officers and fire and [...]
