Proposed Budget - Fiscal Year 2025
On January 17, Maryland Governor Wes Moore released a $63.1 billion all funds budget for fiscal 2025, a decrease of 2.0 percent compared to fiscal 2024. General fund spending totals $25.8 billion, a decrease of $1.6 billion, or 5.8 percent, from fiscal 2024. Estimated general fund revenues for fiscal 2025 are $25.1 billion, an increase of 1.8 percent over fiscal 2024. The proposed budget would leave an unappropriated general fund balance of $103.0 million and maintains a rainy day fund balance of 9.4 percent of general fund revenues, or $2.3 billion, in fiscal 2025. The budget does not include any tax increases and shrinks the structural deficit by 34.0 percent.