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Maryland Senate votes for $50B plan to balance state budget

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ANNAPOLIS, Md. (AP) — The Maryland Senate has approved a plan to balance the state’s budget in the next fiscal year, with enormous support from the federal government to respond to the impact of the COVID-19 pandemic.

The $50 billion budget plan was passed unanimously Thursday. The House already has passed legislation. The two chambers will work on reconciling some differences before the Legislature’s scheduled adjournment on April 12. It provides nearly $1.3 billion to respond to the pandemic. It also leaves about $1.8 billion in reserves for the future.

The Senate’s budget chairman says there is enough general fund balance to erase projected deficits through fiscal year 2024.

 

 

Source: AP – All contents copyright 2021 Associated Press.  All rights reserved.

 

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