Top Issues of 2023 Session: Budget and Fiscal Outlook
With the 2023 legislative session rapidly approaching, MACo is profiling some significant issues that stand to gather attention in the General Assembly's work. Here, we preview Maryland's budget and fiscal outlook. The Constitution of Maryland requires a balanced budget: total estimated revenues must equal or exceed total appropriations. The budget also must reflect any estimated revenue surplus or deficit at the end of the preceding year. Previously, the Maryland Constitution prohibited the General Assembly from…