Study Finds Maryland’s FY 2012 General Fund Spending Increases by 11%

According to a jointly sponsored study by the National Governor’s Association and the National Association of State Budget Officers, Maryland’s General Fund spending will increase by 11% in FY 2012, the fourth largest of any state. According to the Washington Times:

Maryland’s General Assemblyin April passed a $34.2 billion budget, which includes $14.6 billion in general fund spending — an increase from last year’s $13.2 billion.Three states — Florida, Minnesota and Iowa — will have larger general fund increases this year. Nationwide, general fund spending is expected to increase by 2.6 percent.

The study also points out that Maryland might not be in as bad of shape as many other states, considering it has the country’s sixth-largest rainy-day fund and was one of 27 states that did not have to institute midyear budget cuts in the past year.

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