Governor Larry Hogan today announced preliminary recommendations for the state’s Fiscal Year 2024 (FY24) budget, a plan that supports continued economic growth and community revitalization, strong fiscal responsibility and budget sustainability, and key investments in critical areas—including expanding access to health care for rural and vulnerable communities. “I pledged to bring fiscal responsibility and common sense to our state capitol,” said Governor Hogan. “I know this doesn’t usually happen in politics, but we then did exactly what we said we would do. We inherited the worst fiscal situation ever, and we are not just leaving the state’s finances in better shape than we found them, but leaving it in the best fiscal position than the state has ever been in history.” Under the state’s budget process, the outgoing administration has prepared a preliminary budget to be submitted to the incoming administration, which will ultimately be tasked with submitting the final budget to the General Assembly no later than Friday, January 20. Maintaining Fiscal Responsibility and Budget Sustainability The recommended FY24 budget plan calls for preserving the state’s strong fiscal position by maintaining a substantial budget surplus and keeping the Rainy Day Fund at a record 12% of general fund revenues—all […]
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