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What the Election Results Mean for Maryland

November 22, 2016 by Benjamin Orr in Blog, Budget and Tax, Economic Opportunity, Health

 

This election cycle has been hard on everyone. But now that it is over, we must look ahead to how potential changes in federal policies will affect Maryland. The new administration and Congress have the potential to significantly alter the state’s finances, as well as Maryland’s relationship with the federal government.

Here is what the Maryland Center on Economic Policy is paying attention to:

  • We must redouble our commitment to equity and ensuring that the benefits of a healthy economy are broadly shared. There is no place for racism, sexism, homophobia, or xenophobia in our vision for Maryland.
  • Maryland must defend the gains made in health insurance coverage, despite the likely repeal or drastic rewrite of the Affordable Care Act. Maryland must also push back against other policy changes which may reduce access to care.
  • Federal funding is likely to fall, hurting average Marylanders who depend on investments in education, health care, transportation, and essential protections for families, such as anti-hunger programs. We will need to be creative to figure out how to make up the difference, as federal funds make up 28 percent of Maryland’s current operating budget. This will be difficult at a time when state revenue growth is still slower than expected. Clearly, a part of the answer will be making sure that everyone pays their fair share.
  • Depending on how trade and fiscal policies change, the global economy may suffer, and Maryland along with it. If federal employment falls, Maryland will be hurt. If the nation enters another recession, Maryland will be hurt. If federal spending does not ramp up in response to a recession, as it did in 2008, our state will not be insulated from the downturn in the same way that it was in the past.
  • Furthermore, while on average Maryland may fare somewhat better during difficult times than other parts of the country, the things that protect us as a state are not equally shared among all Marylanders.

Finally, this election is yet another reminder that Maryland is not monolithic, and that people across the state are gravely concerned about their economic well-being. MDCEP has solutions to offer folks worried about jobs, wages, and the economy, and we look forward to working together with our partners in the community to make our vision of broad prosperity for all Marylanders a reality.