The following article was submitted by Delegate Bob Long about Maryland’s projected $1.4 billion cash shortfall for Fiscal Year 2027.
Last week the Department of Legislative Services announced Maryland is now projected to face a $1.4 billion cash shortfall in fiscal year 2027.
My Republican colleagues and I have been warning about the looming deficit for years. Last session, Maryland Democrats passed the single highest tax increase in Maryland’s history.
They do not seem to understand that at some point, you tax yourself out of revenue. Governor Moore continues to blame President Trump for Maryland’s budgetary woes, but the truth is Maryland needs to tighten its own belt.
How come neighboring state Virginia has a sound budget with a huge surplus? The truth is Maryland needs to tighten its own belt.
The Blueprint for Maryland’s Future is projected to be a $3.7 billion dollar project when all is said and done. I am not convinced that the program is worth this astronomic amount of money, and I know it is not sustainable for our economy.
This problem extends well beyond fiscal year 2027. Maryland is projected to face structural deficits for years to come due to the reckless spending of democrats. The spending spree going on in our state must stop.
Families work hard and budget their finances just to make ends meet. Why shouldn’t the state of Maryland do the same with our money?
Surely, this session we will hear arguments for all sorts of new taxes and fees. One proposal is the sugary beverage tax, which would levy a 2-cent-per-ounce tax on the distributors of essentially all soft drinks.
Of course, this cost would be passed onto us, the consumers. It hurts me to watch Maryland become more and more unaffordable by the year.
I made a pledge to never vote for new or increased taxes, and I will continue to honor it.
