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As Lawmakers Prepare 2024 Budget, Structural Deficit Emerges From $478 Million Dip In Revenue

March 13, 2023
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Maryland appropriators warned Thursday that legislative ambitions in the first year of a new term under Democratic party rule in Annapolis might have to be constrained a bit after state revenue estimates came in lower than anticipated.

House Appropriations Chair Ben Barnes (D-Prince George’s) said lawmakers would have to work on a budget that accounts for a new projected structural deficit before considering passing new bills with new spending obligations.

Barnes’ comments came shortly after the state’s Board of Revenue Estimates released new figures estimating a $478 million revenue dip during the current and next fiscal year, for which lawmakers are expected to pass a budget by April 3.

Overall, the fiscal writedown equals about 1% of previously anticipated revenue.

Click here to read the rest of the article written by Danielle E. Gaines over at Maryland Matters

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