ANNAPOLIS, MD (AP) – Maryland Gov. Wes Moore has submitted a $63.1 billion budget for the next fiscal year. The spending plan uses a variety of budget-balancing moves to close a deficit. It also would avoid tax hikes as it pushes forward with initiatives to boost public safety, make housing more affordable and expand child care support. The budget addresses a shortfall of about $1.1 billion by leveraging the state’s debt capacity and drawing on the state’s rainy day fund. It also would fill the gap by reining in spending from funding formulas that grew unsustainably with federal pandemic aid. Republicans were relieved not to see any tax increases at a time when some Democrats discussed doing more to confront future budget crunches with new revenues during the session. Still, Republicans expressed concern about the future.
GOV. WES MOORE