New data released by Maryland’s Democratic Comptroller shows how Governor Hogan has achieved a remarkable turnaround of the state’s fiscal health in his tenure.
In 2014, Governor Hogan inherited a $5.1 billion structural budget deficit after his predecessor raised taxes 43 consecutive times. Now, after eight years of pro-growth policies and $4.7 billion in tax cuts, Maryland will close the 2022 fiscal year with a record reserve fund of $4.4 billion and a revenue surplus of $2 billion in its general fund.
While Washington’s big spending policies continue to produce crushing inflation on American families, Governor Hogan has restored fiscal discipline while growing the economy and investing in key priorities.