Maryland Budget Committees Briefed on Budget Outlook and Reductions
July 15th, 2020
Update from Manis Canning & Associates (MCA):
The budget committees of the General Assembly, Senate Budget and Taxation and House Appropriations, received a budget update and briefing by the Department of Legislative Services (DLS) and Department of Budget and Management (DBM) on the State’s budget outlook for fiscal years 2021 and 2022, and reductions for fiscal year 2021. Using the more favorable revenue projections from the Bureau of Revenue Estimates, the State is facing a $5 billion budget challenge over the next two fiscal years. This is equivalent to about 12% of the planned spending over the two years and aligns revenues to the level received in fiscal year 2018, 4 years prior.
Read the full Maryland budget update from Manis Canning & Associates (MCA) here.