image description

Hogan Working To Eliminate Projected Budget Shortfall

December 15th, 2014 by WCBC Radio

Republican Gov.-elect Larry Hogan last week painted a grim portrait of the financial house he'll inherit next year, saying Maryland needs "strong medicine" to end an era of outsized spending. Hogan, citing the same financial numbers released by legislative analyst’s last month, decried a $1 billion structural deficit expected for next year and promised not to use the "gimmicks" he said his predecessor employed to balance the budget. Hogan said he gave his fiscal team 10 days to present options to carve $300 million out of this year's budget and to eliminate a projected shortfall for next year, when revenue is expected to dip by $600 million. Maryland House 1C-elect Mike McKay said the fiscal crunch will make for a challenging freshman year in Annapolis…





 

Leave a Reply

 



View Mobile Site