Annapolis, MD – As state lawmakers return to Annapolis for the annual legislative session, they must accept responsibility for the state’s massive budget deficits and lagging economy. It’s time to acknowledge our fiscal reality, dial back irresponsible spending and implement pro-economic growth policies.
STATEMENT FROM JESSICA HAIRE, FORMER ANNE ARUNDEL COUNTY COUNCILMEMBER AND CHAIR OF OPPORTUNITY MARYLAND:
“In the last few years, Maryland families have faced historic inflation and rising interest rates. Energy costs are going up. Property taxes are going up. Our state’s economy is stagnant. And now legislators are returning to Annapolis saying they’re going to raise our taxes even more.
It’s time legislators understood the impact their decisions have on hard-working Marylanders and our state’s economy. Spending has run rampant and lawmakers are looking at us to bail them out. Just like families have to live on a budget, the legislature should take a look at spending and live within its means – not raise taxes and make our state even less affordable.”
BACKGROUND
In the face of a general fund deficit of $3 billion and a transportation fund deficit of $1.3 billion, Senate President Ferguson recently insisted that the gaps are not due to “inappropriate spending in any way.” He went on to blame inflation for the deficits.
Despite the rhetoric from legislative leaders, it’s clear the legislature has made too many high-cost promises with no plan to pay for them.
Last spring, Moody’s warned that the state’s bond rating was in danger. Moody’s cited concerns about deficits driven by spending commitments.
Just recently, a legislative budget analyst declared the budget outlook to be the worst in twenty years – even worse than during the Great Recession.
When it comes to the state having a spending problem, Governor Moore might even agree. At the MaCo winter conference, the Governor reminded us that the state budget has grown more than 70% since 2017, far outpacing inflation.
But spending isn’t Maryland’s only problem. Comptroller Lierman has reported that our state is also confronted with a stagnant economy that’s not keeping pace with the rest of the country.
Unfortunately, rather than admitting the spending problem and looking for ways to promote economic growth, legislators say they’ll have to “look at revenues.” This is disguised language – legislators’ way of saying they’re going to raise taxes and fees.
Public polling has repeatedly shown the majority of Marylanders don’t want increased taxes to pay for education reforms, expanded government services, or to erase the deficit.
Opportunity Maryland urges fiscal responsibility with a focus on growing our economy, not our state budget.
ABOUT OPPORTUNITY MARYLAND
Opportunity Maryland is an independent non-profit advocacy organization that promotes policies encouraging economic growth and prosperity. Led by former Anne Arundel County Councilmember Jessica Haire, Opportunity Maryland engages area leaders and everyday Marylanders to let policymakers know rather than simply raising taxes, we need to make our state economically competitive.