O’Malley acknowledges that “nobody will like” his proposed budget, which will address the $2 billion shortfall entirely with spending cuts.
Democrats say that’s not true, but few expect the $13 billion plan Gov. Martin O’Malley is set to unveil Wednesday will tackle the state’s structural deficit. Many believe the spending proposal will include unpalatable cuts to close a $2 billion gap between expected revenue and spending on programs – but also short-term fixes and placeholders in expectation of a new round of federal stimulus funds.
O’Malley’s chief of staff said the governor’s spending plan for the coming year, which by law must produce a balanced budget, will have no new taxes in it. Still, O’Malley acknowledged last week that “nobody will like” the proposal he’s working on.
But some legislators are considering other options to increase revenue and soften the spending cuts. Full article, with menu of options, here.
