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Hogan presents final budget proposal amid huge surplus

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Click the audio to hear Senator Cory McCray, D-District 45 discuss Maryland’s budget surplus.

ANNAPOLIS, Md. (AP) — Maryland Gov. Larry Hogan presented his final budget proposal, touting tax cuts, record education and school construction spending and aid for the vulnerable.

Hogan said Wednesday that his administration's mission has been to leave the state in a stronger fiscal position.

The proposal would gradually eliminate the taxation of all income for retirees above 65 who receive Social Security.

Maryland has an unprecedented $4.6 billion budget surplus this year.

House Speaker Adrienne Jones says the proposal funds priorities like higher education, but she's concerned about undermining a 10-year plan to improve K-12 schools.