Hi, Maryland. Just letting you all know. While we're all going around happy as little clams, our state legislators are trying to figure out how to cut $720 million from the state's budget. And they have about a month, give or take, to figure it out.
Now mind you, this figure is what would have to be cut if taxes aren't increased? Remember our 10% tax cut under the wonderful leadership of that fine human being Parris Glendening? Well, it's very possible that half of that tax cut is going to be rescinded. This year.
This post has more about the possible acrosse the board tax increase, and about what cuts may ensue should tax increases not be approved. There will be all sorts of cuts to higher education, school aid, assitance to local budgets, Medicaid... it goes on and on.
So, right now I'm going to take a wild-assed guess and guess that the "Doomsday Budget" won't come to pass. There will be some mix of tax increase and spending cuts. Please help me contain my excitement.