Flipping Through the Fiscal Plan

On the latest episode of the Conduit Street Podcast, Kevin Kinnally and Michael Sanderson breakdown Governor Hogan’s $58.2 billion proposed budget, including administration priorities, funding for essential county programs and services, and a peculiar omission of $125 million in seemingly mandated education funding.Plus, we explain why a proposal to eliminate all state income taxes for retirees by 2028 — a centerpiece of the governor’s overall fiscal plan — will trigger a fascinating policy debate over long-term commitments vs. one-time spending amidst an unprecedented surplus and strong cash outlook.The Conduit Street Podcast is available on major platforms like Spotify, Apple Podcasts, Google Podcasts, and more. Episodes are also available on MACo’s Conduit Street blog.Listen to previous episodes of the Conduit Street Podcast on our website.Useful LinksProposed Budget Documents (fiscal 2023):Budget HighlightsVolume IVolume IIPrevious Conduit Street CoverageConduit Street Podcast: Happy New Year, Let’s Do The NumbersSpending Fiscal Leaders on Surplus: Bolster Rainy Day Fund, Repay Unfunded Liabilities, Invest in One-Time Capital ProjectsTop Issues of 2022 Session: Budget and Fiscal OutlookHere’s How Governor Hogan Plans to Spend $2.5B Budget Surplus