Governor Hogan announces FY2022 budget is 100% balanced

MARYLAND – The past year was a financial challenge to say the least for many Marylanders. But Maryland Governor Larry Hogan announced Tuesday that the state’s budget is 100% balanced. Wednesday morning the complete budget will be formally submitted to the General Assembly. “We look forward to working together with the House and the Senate in a bipartisan and collaborative fashion to enact a final budget,” said Gov. Hogan.

Gov. Hogan unveiled the big points of the budget for Fiscal Year 2022 Tuesday afternoon. Among those points – $7.5 billion in investments into Maryland’s education system. Roads and highways will get more than $1 billion and local police aid efforts will get $74.6 million. Mental health and addiction treatment services will see $978 million. The budget will also provide $48.8 million for restoration efforts on the Chesapeake Bay, as well as millions of dollars to help support renewable energy. Public health efforts will also see millions of dollars.

Plus, Gov. Hogan says Marylanders can expect to see more than $1 billion in direct stimulus and tax relief. “The last thing that should ever in the middle of this pandemic would be to increase taxes on struggling families and small businesses. That would cause more suffering, and it would short circuit Maryland’s economic recovery,” said Gov. Hogan.

This is the seventeenth year in a row that Maryland’s budget came out balanced.