January 21, 2022
Governor Larry Hogan this week unveiled a record-setting fiscal 2023 proposed budget, as state officials project balanced budgets through 2028, with none of the typical warnings of billion-dollar shortfalls.

In addition to a $2.4 billion appropriation to the State’s rainy day fund, the proposal provides for a $1.3 billion structural surplus. The governor’s proposed budget provides $9.7 billion in aid to local governments – $672 million over fiscal 2022. The primary increases include an additional $556.6 million for K-12 education aid, $58.4 million for public safety, $28.6 million for Program Open Space, and $19.2 million for community colleges. Conduit Street has your coverage for local government analysis.
Conduit Street Podcast

On the latest episode of the Conduit Street Podcast, Kevin Kinnally and Michael Sanderson breakdown Governor Hogan’s $58.2 billion proposed budget, including administration priorities, funding for essential county programs and services, and a peculiar omission of $125 million in seemingly mandated education funding.

Plus, we explain why a proposal to eliminate all state income taxes for retirees by 2028 — a centerpiece of the governor’s overall fiscal plan — will trigger a fascinating policy debate over long-term commitments vs. one-time spending amidst an unprecedented surplus and strong cash outlook.

The Conduit Street Podcast is available on major platforms like Spotify, Apple Podcasts, Google Podcasts, and more.
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