Maryland Senate President Bill Ferguson argues the state must pivot toward a private sector-driven economy as federal job cuts and reduced spending erode a long-standing foundation of growth. Heavy reliance on federal employment has left Maryland vulnerable, contributing to job losses and a projected $1.2 billion budget shortfall for fiscal year 2027. Ferguson sees the disruption as a chance to rethink the state’s economic model, pointing to assets like the Port of Baltimore, universities and health care institutions as potential engines of growth. He says the challenge now is fostering competitiveness and expansion without raising taxes, even as economic uncertainty intensifies.
