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Where is the concern for Maryland’s deficits?

September 16, 2022

The state of Maryland recently closed out the fiscal year with a $2 billion surplus. This produced all kinds of bipartisan self-congratulatory talk about fiscal discipline and good budgetary stewardship at the Sept. 14 Board of Public Works meeting with Republican Lt. Gov. Boyd Rutherford and Comptroller Peter Franchot, a Democrat, taking bows. Much of that money is already slated to go to what is known as the “Rainy Day Fund,” which is essentially a savings account for when state government faces unexpected expenses such as a natural disaster, an abrupt economic downtown or a serious drop in tax revenue.

Article Source: Baltimore Sun

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