FY 2012 Budget to Include Cuts Not Taxes

As reported by the Baltimore Sun, Governor Martin O’Malley shared his plans for addressing the $1.1 billion deficit in the upcoming fiscal year.

O’Malley gave little indication Wednesday about how his second term would differ from the first. Hours after declaring victory, O’Malley stood on a Baltimore street corner and held a sign thanking voters in the morning, and then returned to Annapolis for a meeting of the state spending panel that made billions of dollars in budget cuts during his first term.

Those years, marked by the worst recession in decades, were “miserable,” O’Malley said.

He said he is working on the next state budget and that it would be balanced without tax increases. The governor said he planned to close a $1 billion gap between revenues and spending with cuts and transfers similar to moves he has made over the past few years.

The state’s slightly improving revenue means he might be able to “peel back on furloughs” to which state workers have been subjected each of the last several years.

Additional coverage can be found in the Carroll County Times.

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