Governor’s budget will close $1.3 billion deficit, invest in job creation, reform pension system
ANNAPOLIS, MD (January 20, 2011) – Governor Martin O’Malley and members of the Governor’s budget team will outline the FY12 budget proposal, which will be submitted tomorrow to the General Assembly. The Governor’s FY12 budget proposal will close a budget deficit of more than $1.3 billion, focus valuable resources toward job creation initiatives, and propose a series of reforms to put the state’s pension system on a path of sustainability.
Earlier this month, Governor O’Malley delivered remarks www.governor.maryland.gov/pressreleases/110106.asp to local leaders before the Maryland Association of Counties Annual Winter Conference, where he directly addressed one of the most pressing challenges in the upcoming budget debate – pension reform.
Over the past four years, the O’Malley-Brown Administration has cut $5.6 billion from the state budget, including 4,200 state positions. The state faces an approximate $1.3 billion budget gap for FY12, which the Governor has committed to closing with a budget proposal depending on cuts rather than new taxes.
Tomorrow’s budget briefing will be broadcast live on the Governor’s website, accessible here www.governor.maryland.gov/stream.asp.
WHAT: Governor O’Malley to brief members of the media on the FY 2012 budget proposal
WHEN: TOMORROW, Friday, January 21, 2010 at 1:30 p.m.
WHERE: Maryland State House
Governor’s Reception Room