House leaders warn of future cuts to education without increased taxes that their Senate counterparts and Gov. Wes Moore have so far rejected.
House and Senate disagree on approach to long-term budget deficits as higher-than-expected Medicaid enrollments erode cushion.
Plan would impose combined reporting on corporations, increase taxes on high earners as well as inheritances and capital gains while providing some additional tax credits for low-income earners.
Proposed $63.1 billion plan increases aid for childcare, public safety, service year program but will “rebase” spending to others including grants for students at private colleges and a community college funding formula.
The recommendation by the Capital Debt Affordability Committee comes as fiscal leaders grapple with projected structural deficits and aging government and school facilities.