He calls it ‘an economic recovery budget.’
Annapolis, Md (KM) It’s “an economic recovery budget” which provides tax relief and economic stimulus to families and businesses in Maryland which need it the most. That’s how Governor Larry Hogan describes his proposed fiscal year 2022 budget.
“Our budget provides record investments in education, crime prevention, public health and all of our key priorities,” the Governor said during a news conference Tuesday in Annapolis.
Most of the details will be available on Wednesday when the Governor presents the budget to the General Assembly, but he shared some highlights with reporters. They include $7.5-billion for K-12 education; $74.6-milliion in police aid to local law enforcement; $13.5-billion for Maryland’s Medicaid program; $1.4-billion for developmental disabilities services; $978-million for substance abuse treatment; $48.8-million to fully fund the Chesapeake and Atlantic Coastal Bays Trust Fund; and other items.
The Governor’s budget also provides tax relief for Maryland’s retirees. “Even though we’re one of the best places to live in America, and we have so many great things going for us, we’re losing many of our best citizens,” he said. “People who’ve been life-long Marylanders. and have contributed so much and still have more to offer are moving to other states for one reason: our state’s sky-high retirement taxes.”
He also says this budget maintains necessary reserves to help Maryland retain its’ AAA Bond rating. “And will allow us to remain prepared over the next few months which we expect could be some of the most challenging of the pandemic,” the Governor says.
“For the seventh straight year, our budget is 100% structurally balanced,” he says. “We’ve accomplished this with no tax increases, without any layoffs or furloughs for hardworking state employees, and without cutting any essential services for Maryland citizens.”
By Kevin McManus