ANNAPOLIS, Md. — Maryland Governor Wes Moore signed the state's nearly $71 billion budget into law before lawmakers finished the legislative session.
The budget is balanced and does not raise taxes or fees. It is the fastest Moore has signed the budget as governor.
"Choosing between fiscal responsibility and investing in our state is a false choice. That Maryland can and will do both; because our budget is a lot more than just a lot of numbers on a paper, because it shows who we're willing to fight for," Moore said.
Gov. Moore signs $71 billion budget into law early but funding questions remain
Despite the balanced budget, questions remain about how the state will handle future financial issues. Senate President Bill Ferguson acknowledged those concerns Tuesday.
"I think we did a balanced approach that does leave some big questions that we're gonna have to take up in a year from now," Ferguson said.
Maryland used some band-aids to balance this budget, including money from energy funds and withholding additional funding from the rainy day fund, which is already above the recommended level.
"There's not enough money there long term for the scope and size of our state government, and we're going to have to right size it one way or the other," Delegate Jason Buckel said.
The biggest issue to be dealt with is education funding, known as the Blueprint for Maryland's Future. The initiative does not have a fully dedicated way to pay for it and currently requires the state to continue increasing funding for schools across Maryland.
"I think that all of us recognize that while it's great that we were able to put that budget together this year and pay for Maryland's obligations this year without new taxes and fees in this budget, in this cycle. It doesn't solve the long term problems. You're going to have to reform the blueprint. We can't afford the blueprint," Buckel said.
With the state expected to be in the red next year, Marylanders will be on the lookout for either cuts to current services or increases to taxes and fees.
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