Current:Home > StocksMaryland governor proposing budget cuts to address future shortfalls -InvestTomorrow
Maryland governor proposing budget cuts to address future shortfalls
View
Date:2025-04-19 03:15:01
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.
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.
veryGood! (89969)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Alabama names Bryant-Denny Stadium field after Nick Saban
- Taylor Swift's Alleged Stalker, Accused of Threatening Travis Kelce, Arrested at Germany Eras Tour
- Churchill Downs lifts suspension of trainer Bob Baffert following Medina Spirit’s failed drug test
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Carol Burnett honors friend Bob Newhart with emotional tribute: 'As kind and nice as he was funny'
- Krispy Kreme giving away free doughnuts Friday due to global tech outage: What to know
- Ten Commandments won’t go in Louisiana classrooms until at least November as lawsuit plays out
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Meet Keshi, an oncology nurse turned pop star with a massive world tour
Ranking
- Meta donates $1 million to Trump’s inauguration fund
- CrowdStrike CEO George Kurtz Apologizes Amid Massive Tech Outage
- Marine accused of flashing a Nazi salute during the Capitol riot gets almost 5 years in prison
- RHOC's Tamra Reveals How John's Relationship With Alexis Is Different Than Ex Shannon
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- The 31 Best Amazon Deals Right Now: $5 Beauty Products, 55% Off Dresses, 30% Off Laneige & More
- In a California gold rush town, some Black families are fighting for land taken from their ancestors
- Julia Fox’s Brunette Hair Transformation Will Have You Doing a Double Take
Recommendation
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
Which sports should be added to the Olympics? Team USA athletes share their thoughts
Meet Keshi, an oncology nurse turned pop star with a massive world tour
Nevada judge who ran for state treasurer pleads not guilty to federal fraud charges
Federal hiring is about to get the Trump treatment
Rust armorer wants conviction tossed in wake of dropping of Baldwin charges
Moon fests, moon movie and even a full moon mark 55th anniversary of Apollo 11 landing
Caitlin Clark's rise parallels Tiger's early brilliance, from talent to skeptics