Maryland governor proposing budget cuts to address future shortfalls

2024-12-24 02:34:25 source: category:Finance

ANNAPOLIS, Md. (AP) — Maryland Gov. Wes Moore is proposing a package of state spending reductions to get an early start on helping to address a future budget shortfall, after lawmakers took some beginning steps to tackle upcoming fiscal holes in this year’s session.

Moore is proposing about $149 million in mid-year budget cuts next week for approval by the state’s Board of Public Works, which is comprised of the governor, the comptroller and the state treasurer. The powerful spending panel has the authority to cut up to 25% of the state’s operating budget.

Helene Grady, Moore’s budget chief, has scheduled an availability with journalists to discuss the plan on Wednesday afternoon.

“This morning, my administration submitted a plan to make targeted and strategic spending cuts and grow our economy while simultaneously protecting the programs and projects that Marylanders care about most,” Moore wrote in a column in The Baltimore Sun on Wednesday.

“We’ve taken a disciplined, data-driven approach that prioritizes investment in areas that connect Marylanders with employment and build new pathways to work, wages, and wealth for all,” the governor wrote.

RELATED COVERAGE Vikings’ Khyree Jackson, 2 former high school teammates killed in car crash in Maryland Maryland OKs $50.3M contract for removal of bridge collapse debris Maryland hikes vehicle registration fees and tobacco taxes

Moore submitted a balanced $63 billion budget in January for the fiscal year that began this month. It did not include tax increases as originally proposed, but the General Assembly changed the legislation to include new revenue, including a variety of transportation-related user fees to help pay for transportation projects and tobacco tax increases to help pay for education.

Legislative debate over how to address longer-term budget shortfalls is expected to resume when the General Assembly convenes in January.

More:Finance

Recommend

California researchers discover mysterious, gelatinous new sea slug

MONTEREY, Calif. (AP) — More than two decades after spotting a mysterious, gelatinous, bioluminescen

A California city wrestles with its history of discrimination against early Chinese immigrants

ANTIOCH, Calif. (AP) — In 1939, after attending the Golden Gate International Exposition in San Fran

TV is meant to be watched together. Your guide to Apple SharePlay, Amazon Prime Watch Party

Watching TV shows and movies with your friends or partner is a commitment to be taken seriously.It d