Raising revenues, rather than deep state budget cuts or relying on rainy day reserves, would likely be the least disruptive way of addressing future Maryland budget deficits, a leading state budget expert said at a budget hearing Tuesday.
Maryland lawmakers, who are approaching their second legislative session in a four-year term, are weighing how to address rising budget shortfalls in the future that are largely being caused by increasing costs of an education funding law known as the Blueprint for Maryland’s Future.
The state has been able to make investments and put added money into its rainy day fund in recent years with the enormous help of federal money to help states recover from the COVID-19 pandemic. States are now adjusting without such aid.
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