Maryland Budget Deficit
Maryland- Now to a major development in Maryland’s State Budget.
When approved back in January a surplus was projected but now six months later a budget deficit has been discovered. 47ABC News spoke with state Senator Mary Beth Carroza who called the Deficit extremely concerning.
She explained that the major cause of the financial disparity is the hefty cost that comes with the new educational blueprint along with federal funding that is no longer being provided to the state.
She said, “When the blueprint education reform bill was originally proposed we talked about the price tag and would locals even be able to it, would the state be able to afford it.”
She continued saying “The federal covid funds that many of the states, including Maryland have relied on to a certain extent have begun to dry up so now we’re back to the reality of what Maryland’s budget actually looks like.”
Senator Carozza says there is now real pressure on the General Assembly and the Moore administration to cut back spending in certain areas. Yet that’s nothing the state hasn’t dealt with before. As in previous years under Former Governor Larry Hogan budget deficits were turned into a surplus.
Carozza believes the first step toward correcting the budget is taking a look at the Education Blueprint.
“I actually agree with the House Minority leader Jason Buckle from western Maryland. he noted that we may need to take a step back and really look at the price tag for example of the blueprint education reform.”
Senator Carozza says that Blueprint carries a more than four billion-dollar price tag.
She added that her main areas of focus are education and public safety which the blueprint can help with, but the timeline could be stretched out or pushed back to alleviate some of the financial stress.
The Moore administration released these statements in response to the deficit saying…
“The state has for many years been projecting deficits in the out years, including under the last administration. Governors and the General Assembly have always worked together to close these gaps, and we will close this one as well. Maryland’s unique model of smart, bipartisan budgeting is why we have maintained AAA bond ratings since the 1960s.”
“Marylanders have come to expect fiscal responsibility from this administration and the governor will continue to lead Maryland with that at the top of his mind. While it is still incredibly early to point to what policies will be needed for next year’s budget, Governor Moore is focused on not adding additional burdens on working families at a time of high inflation and potential economic headwinds.”
“Every policy proposal that comes from the Moore-Miller Administration will be focused on making sure the state is investing in evidenced-backed policies that drive economic growth and good-paying jobs, ensure the education of Maryland’s children, and make our communities safer, all while making life a little easier for families struggling to keep up.”
