A key state fiscal panel approved a sharp increase in state borrowing for the next year as fiscal leaders look for ways to offset a projected structural deficit while improving schools and aging buildings and infrastructure. The recommended $500 million increase over anticipated levels comes as Gov. Wes Moore (D) and others express concerns about the state’s fiscal future. It also represents a potential reduction of cash once intended for capital projects.
Panel recommends 45% increase to state borrowing in coming year
October 18, 2023