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Thursday, January 16, 2014

O'Malley Unveils Final Budget; Reflects On 8 Years

Gov. Martin O'Malley proposed a $39 billion budget for Maryland on Wednesday that closes a shortfall, in part by making a smaller payment toward long-term state pension reform.

O'Malley's final budget proposal closes the $584 million shortfall without taxes or fees while also including record spending on K-12 education. The budget plan includes $289 million for school construction.

The Democratic governor said tax and fee increases from previous years of his tenure made new taxes unnecessary this year - an election year with all 188 seats in the Legislature and statewide offices to be decided in November.

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