Amid surplus, Hogan pitches budget plan to incoming governor
ANNAPOLIS, Md. (AP) — Maryland Gov. Larry Hogan is making preliminary budget recommendations to incoming Gov.-elect Wes Moore at a time when the state has a big budget surplus.
Hogan, a term-limited Republican, outlined highlights in his budget proposal Thursday to the incoming Democratic governor.
The state has roughly $2.5 billion in budget surplus. Maryland also has about $3 billion in its Rainy Day Fund.
Today I was proud to announce our preliminary recommendations for the FY24 budget, to support continued economic growth and community revitalization, strong fiscal responsibility and budget sustainability, and key investments in critical areas.— Governor Larry Hogan (@GovLarryHogan) December 15, 2022
Details: https://t.co/N9ka8skuQS pic.twitter.com/GPYWDxYOEZ
Hogan's budget team has been working with the incoming administration on the budget for the next fiscal year.
Moore will submit his budget plan to the General Assembly on Jan. 20, two days after he takes office.