Tag: spending affordability

Staff tells legislators to keep current lid on state debt

The legislature’s fiscal staff told lawmakers Thursday that they should not follow an O’Malley administration proposal to increase Maryland’s authorized debt by $375 million over the next five years.

The staff said this is one way to reduce debt service — payments of principal and interest on the state’s bonds — that will grow by 24% in those five years. It would be the largest increase in any budget category.

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