First look at our 2011 budget

Later today, I'll formally introduce our administration's fiscal year 2011 budget – but I wanted to share some important details about it with you before I do.

As with previous budgets, we kept two fundamental goals in mind when formulating this year's proposal.

First, we knew we had to maintain our commitment to fiscal responsibility, which has put Maryland in a position to emerge from the recession faster than most other states. By restoring fiscal responsibility, we are creating an environment to generate jobs and foster economic growth in our state. Our unemployment rate remains 25% lower than the national average, and we beat out all but two other states in job growth last year.

Balanced books have put us on the path back to economic recovery, and I'm proposing $1 billion in additional cuts today that are a tough – but critical – part of continuing to grow Maryland's economy.

Second, it's crucial that we continue to protect our core priorities amid these necessary cuts.

Despite the challenges our state has faced during this recession, we've managed to make important progress in job creation, public education, public safety, and environmental protection.

We can and must continue that progress. It's important for the quality of life of all Marylanders today, and for ensuring our state's prosperity in the years to come.

Our budget proposal will:

• Continue to invest in our public schools, which Education Week recently ranked the best in the nation for the second year running.
• Dedicate $20 million to the Job Creation and Recovery Tax Credit, encouraging businesses to hire Marylanders this year.
• Support more than 20,000 construction jobs over the next fiscal year through capital budget funding.
• Build on the progress we have made rebuilding our communities with the Sustainable Communities Tax Credit and support an additional 15,000 Maryland jobs.
• Double our investment in the 2010 Bay Trust Fund over fiscal year 2010 to continue restoring our Bay.
• Continue funding health care coverage for low-income children and adults. Since Lt. Gov. Brown and I took office, our administration has expanded health care coverage to include 200,000 more Marylanders.

To read more about our budget proposal, click here:

http://www.martinomalley.com/budgetproposal