During its December 18 meeting, the Spending Affordability Committee adopted its recommendations for the FY 2015 budget year — recommending that the state adhere to a limit of 4% growth in ongoing operating spending, and to cap added capital borrowing to only $75 million. The Committee is charged by law with setting spending guidelines for the General Assembly to follow in assembling its final fiscal plan — to which the legislature has a long record of adhering.
From coverage on MarylandReporter.com:
The General Assembly’s Spending Affordability Committee recommended Wednesday that next year’s state budget be allowed to grow by 4% and Maryland’s debt limit be allowed to increase $75 million to $1.16 billion next year.
The recommendations, which are not binding on the governor but are often followed, were approved by the joint committee of legislative and fiscal leaders on straight party-line votes. Republicans backed no increase in spending and no hike in the debt limit.
