PROMISES KEPT: While Washington Fails to Deliver, Governor Hogan Outlines Final Budget With Record Tax Relief and Fiscal Surplus
In 2014, Governor Hogan pulled off the biggest surprise upset in America by pledging to focus on cutting taxes, restoring fiscal responsibility to Annapolis, and improving a struggling economy.
Governor Hogan outlined his final budget that demonstrates beyond a shadow of a doubt that he has delivered on all these promises. Under Governor Hogan, Maryland has gone from a $5.1 billion deficit to a $1.3 billion structural surplus while cutting taxes, tolls, and fees by $2.7 billion.
For the first time in nearly a quarter century, Maryland is projecting a long-term structurally balanced budget with a long-term budget surplus and a record rainy day fund of $3.6 billion, even with an additional $4.6 billion in record tax relief that Governor Hogan has proposed this legislative session.
As a result of this success, Maryland has had the greatest economic turnaround in America, going from 49th out of 50 states to the top ten, recently ranking as the “most improved state for business” by CNBC and creating jobs at twice the rate of the national average. While Washington continues to fail to deliver, Governor Hogan has set a national model on how to achieve real results for the people of his state.