ANNAPOLIS, MD—Maryland lawmakers have reached an agreement on a framework for the state’s fiscal year 2026 budget, Governor Wes Moore announced on Thursday.

The budget framework eliminates a $3.3 billion structural deficit and creates a positive cash balance, according to a statement from the governor’s office.

“As dysfunction and chaos unfold in Washington, here in Maryland, we’ve been moving in partnership. Together, we have arrived at a common-sense agreement that meets each of the three goals I established at the start of session–reform the tax code and not on the backs of working families, grow and diversify the economy, and invest in our people,” said Gov. Moore in a statement. “I want to thank our legislative leaders for their collaboration throughout these negotiations. Together, we will continue to protect Marylanders, as we confront crisis with courage.”

The governor was joined by Lieutenant Governor Aruna Miller, Senate President Bill Ferguson, House Speaker Adrienne A. Jones, House Ways and Means Committee Chair Vanessa Atterbeary, House Appropriations Committee Chair Ben Barnes, and Senate Budget and Taxation Committee Chair Guy Guzzone for the announcement.

“Today, we announced a State Budget framework that strikes what I believe is the right balance of fiscal responsibility and protects our core social safety net here in the State of Maryland,” said Senate President Bill Ferguson in a statement. “We must acknowledge the tough choices that come with responsible budgeting, and under this proposal, we are cutting at least $2.3 billion to navigate economic uncertainties. While these cuts are difficult, they are necessary to maintain fiscal stability for Maryland.”

House Speaker Adrienne A. Jones called the budget the “most challenging” she has ever faced in the legislature.

“This budget strikes the right balance between cuts and revenue to resolve our budget deficit, gets us through the term with a healthy cash surplus, and protects our priorities,” Jones said in a statement. “As Donald Trump and his administration continue to decimate our workforce and wreck our economy, Maryland Democrats will fight back and use every budget tool available to protect our most vulnerable citizens.”

“This budget framework secures critical supports for our children, our seniors, our students, Marylanders with disabilities, and families living in poverty. At a moment of challenge, as officials in Washington take aim at families that are struggling, my colleagues and I are coming together to move in partnership and stand up for our people,” said Senate Budget and Taxation Committee Chair Guy Guzzone.

This article was written with the assistance of AI and reviewed by a human editor.

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