Home Finance Hogan unveils FY’22 budget

Hogan unveils FY’22 budget

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Gov. Larry Hogan unveiled his Fiscal 2022 recovery budget, which makes record investments in K-12 education and public health, provides substantial tax relief to struggling Marylanders and small businesses, expands resources for crime prevention and fighting the opioid epidemic, fully funds Chesapeake Bay restoration, and lays a strong foundation for the state’s economic recovery.

Governor Hogan’s budget provides a record $7.5 billion for K-12 education, above and beyond the legislature’s funding formulas.

This budget aims to stimulate Maryland’s economy with the implementation of Governor Hogan’s recently announced $1 billion RELIEF Act, an emergency legislative package that will provide more than $1 billion in direct stimulus and tax relief for Maryland working families, small businesses, and those who have lost their jobs as a result of the COVID-19 pandemic.

In the FY 2022 budget, police aid to local governments is funded at $74.6 million and local law enforcement grants are funded at $43.7 million – including $3 million to protect Marylanders against hate crimes.

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Governor Hogan’s budget ensures that Maryland’s most vulnerable citizens have access to critical healthcare services. The FY 2022 budget includes nearly $13.5 billion for Maryland’s Medicaid program – providing health coverage to over 1.5 million Marylanders, including more than 143,000 children through the Maryland Children’s Health Program and more than $1.4 billion in support for developmental disabilities community services (a growth rate of 4% over FY 2021), including an additional $25.6 million to expand services.

For the sixth consecutive year, the Hogan administration has fully funded Chesapeake Bay restoration efforts and ensured that all state environmental protection programs funded by the transfer tax are fully funded as well.

For the seventh consecutive year, the governor’s budget is structurally balanced. It limits spending growth without raising taxes, cutting services or implementing furloughs and layoffs for hardworking state employees. The governor’s budget maintains minimal reserves consistent with the legislature’s spending affordability guidelines to help maintain the state’s coveted AAA bond rating.

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