Tag: Spending Affordability Committee

Scripted spending: Legislators propose deficit cut and 4% budget hike

In its annual scripted performance, the Spending Affordability Committee in Annapolis Thursday decided to just about eliminate the state’s structural deficit, but allow spending to rise about 4% next year, for an overall state budget of $37 billion in fiscal 2014. The Board of Revenue Estimates approved a slight uptick in revenues, but the big unknown is what will happen in Washington on the fiscal cliff.

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Legislators order cut in structural deficit

Legislative leaders took a new approach to setting budget targets Tuesday, telling the governor and lawmakers that they wanted to see the persistent $2 billion structural deficit cut by a third next year, meaning a $670 million real reduction in general fund spending.

The Spending Affordability Committee, made up of 21 fiscal leaders in the General Assembly, abandoned setting a percentage target for budget growth as they had for the last 28 years — a target sometimes disregarded by governors.

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