The state is staring down a $3 billion budget deficit, which is likely to overtake the majority of conversations when the Maryland General Assembly convenes next Wednesday, Jan. 8, for the 2025 legislative session. Maryland’s budget woes are the result of state spending outpacing revenues, inflation and the rising costs of government programs, a hesitancy toward revenue solutions, sluggish economy and more. Governor Moore is poised to present his budget proposal on Jan. 15.
A spending problem: Maryland’s budget for fiscal year 2025 is $63 billion — up more than $20 billion from nearly a decade ago. But money coming in has not kept pace, and analysts have been warning for years that either cuts or more revenue will be needed to keep the budget balanced — a legal requirement in Maryland.
