Instant Analysis of the Proposed FY 2015 Budget

Governor O’Malley introduced his Fiscal Year (FY) 2015 budget plan on January 15th, which will be the last budget proposed and passed during his term (though work on the next budget will largely be complete before the next Governor takes office). Highlighting the budget plan’s conformity to the legislature’s Spending Affordability recommendations and asserting that the structural budget deficit will be eliminated by FY 2017, the administration touts the fiscal responsibility of the plan. On Monday, January 20th, the Department of Legislative Services (DLS) will provide their Fiscal Briefing, which will provide us with more detail about the plan. In the meantime, this brief provides a quick, first-look analysis of the Governor’s proposed FY 2015 budget. As more details emerge, the Maryland Center on Economic Policy (MDCEP) will release a more in-depth budget review in the next few weeks.

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