Hogan introduces FY2023 budget
Governor Larry Hogan laid out the final budget of his eight-year tenure during a news conference Wednesday morning, spending that he said will benefit the state for years to come.
“Today I can think of no better way to begin this last year, than by presenting a budget, which continues to keep the promises we made,” Hogan said.
The budget includes a record $3.6 billion rainy day fund, which Hogan says is important to economic stability.
The budget prioritizes tax reform, COVID-19 and other public health aid, funding for schools, and funding for police.
School construction, infrastructure, environmental health including the Maryland Park Service, housing and community restoration, and emergency preparedness are also areas that will receive funding.
All mandates and legislative preauthorizations will be funded, as well, he said.
“The entire mission of our administration has been to leave the state in a stronger fiscal position than when we found it. The state of Maryland is projecting a long-term structurally balanced budget for the first time in nearly a quarter-century,” Hogan said.
The budget now heads to the General Assembly where legislators can reapportion funds, but do not have the authority to remove any.
The budget must be passed by both chambers of the legislature by the 83rd day of the session, April 4, 2022.