Aging Population Poses Long-Term Budget Challenges for States

States are preparing for a future where more residents are older, healthcare costs are higher, and demand for public services continues to grow. As the US population continues to age, states are facing growing fiscal pressures that will require long-term planning and cross-agency coordination. A new report from The Pew Charitable Trusts highlights how demographic shifts are expected to affect state revenues, increase healthcare costs, and drive demand for a wide range of public services…

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The Briefing Room: The State’s Role in Solving Maryland’s Housing Crisis

Over the first two episodes of our housing finance series, Dom Butchko and Terry Hickey explored how affordable housing projects are financed and why today's economic conditions make development more challenging. In Episode 3, the conversation turns to the public sector. Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!

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The Briefing Room: Why Housing Costs More Than Ever

Housing projects do not rise or fall only on land, design, or political will. They also rise or fall with the cost of capital, aka the capital stack. Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!

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Deep Dive: What’s Crowding Out Maryland’s Budget?

Maryland’s budget continues to grow, but lawmakers have less flexibility than they once did. A growing share of State spending now goes toward a relatively small number of long-term commitments, leaving fewer dollars available for transportation, housing, public safety, environmental programs, and other priorities. If it feels like every legislative session begins with another difficult budget debate, that’s because more of Maryland's budget now goes toward costs lawmakers have little ability to change. At the…

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State Collects $26.2M in Quarterly Cannabis Taxes, Locals Receive $342K

Maryland collected more than $26.2 million in cannabis sales tax revenue during the first quarter of 2026. Local governments received $341,990. That amount represents the entire local government share of Maryland’s cannabis tax distribution. Counties initially receive those funds, but State law requires them to distribute 50% of the allocation to municipalities that host cannabis dispensaries that generate the revenue. As a result, counties retain less than the already modest local share. The State imposes…

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Conduit Street Podcast: Different States, Similar County Challenges

This week on the Conduit Street Podcast, Dominic Butchko and Kevin Kinnally record from the Conference of Southern County Associations (CSCA) in Williamsburg, Virginia, joined by county leaders and policy experts from across the South for a discussion on the issues shaping local government today. Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!

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May in Maryland: What’s News, What’s Noise?

We're back with another special edition of the Conduit Street Podcast, with the MACo team taking up several issues from this month's headlines, and trying to sort out which are the real stories (news) and which are more smoke than fire (noise). Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!  

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Revenue Growth Continues Despite Growing Economic Questions

County budget officials reviewed another strong round of revenue data this week, but much of the conversation centered on a growing concern: the numbers no longer align cleanly with Maryland’s broader economic picture. The latest quarterly distribution showed withholding collections growing just under 4%, estimated payments rising roughly 12%, and overall county distributions increasing by 7.6%. Much of that local growth stems from a temporary increase in the percentage of personal income tax revenue allocated…

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New Report Confirms What Counties Already Know: The Next Infrastructure Problem Is Already Here

A new national report suggests local governments may face another long-term fiscal challenge that rarely appears in budget headlines: the growing cost of replacing aging public assets already in service. A recent analysis from Merritt Research Services estimates that US cities carry more than $1 trillion in infrastructure and capital asset obligations tied to aging roads, buildings, equipment, and other public assets. The report attempts to measure the replacement cost of assets that continue operating…

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State Retains AAA Rating as S&P Lowers Outlook to Negative

Maryland’s latest credit reviews preserved the State’s top-tier rating but also raised new concerns about long-term fiscal pressures and future budget sustainability. Maryland retained its top-tier credit standing this week as Fitch Ratings affirmed the State’s AAA issuer and general obligation bond ratings and assigned a AAA rating to $800 million in new GO bonds. At the same time, S&P Global Ratings also assigned a AAA rating to Maryland’s new 2026 GO bonds and affirmed…

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