Gov. Wes Moore signed a $70 billion budget Wednesday morning that focuses on public safety, education and “making life more affordable for our people,” he said.
“This is a balanced budget with no new taxes and no new fees,” Moore said.
“This budget protects our people,” he said during the signing ceremony that also featured Senate President Bill Ferguson and House of Delegates Speaker Joseline Peña-Melnyk.
Moore briefly reviewed what he considered some of the highlights of the fast-tracked budget including:
- $124 million for local law enforcement agencies
- $100 million to help residents pay their utility bills
- Record funding for childcare scholarships
- Funds to increase the housing stock
- Funds for academic excellence coaches to help children with reading
- “an unyielding focus to end childhood poverty”
- $100 million for tax cuts for companies who want to expand or move into Maryland
- Maintains the state’s Rainy Day Fund at 8%
- Includes general fund expenditures smaller than the Fiscal Year 2026 General Fund budget.
“A budget is more than numbers on a page,” Moore said. “It tells our people what matters, it tells our people who we are fighting for, and it tells people whether we are willing to make hard decisions and still deliver. This budget protects our people, makes life a little more affordable for our people, and strengthens Maryland’s economic competitiveness. Together with our partners in the General Assembly, we said what we were going to do, and we achieved it.”
Ferguson called the budget a responsible one that includes Maryland’s values and protects schools, public safety, health and the “services Maryland depends on every day.”
“It protects what matters today and invests in tomorrow,” he said.
Peña-Melnyk pointed to a $384 million investing for low-income residential assistance and funding to help those on SNAP or need energy assistance as major parts of the budget. The budget promotes opportunity, modernizes light rail and accelerates the rebuilding of the Key Bridge, she noted.
“This budget reflects what’s possible when we put Marylanders first—bringing together Democrats and Republicans from every region of the state to make responsible choices that strengthen our economy, support working families, and invest in our communities,” said Peña-Melnyk. “We tightened our belt where needed, but never lost sight of our commitment to opportunity, affordability, and long-term stability. We are meeting this moment with discipline and purpose, while ensuring Maryland remains a place where people can live, work, and thrive.”
The budget includes cuts in state programs, including funding for disability care services, to help deal with a projected $1.4 billion deficit.
The three legislators signed three bills Wednesday — the budget, the creation of a state debt and the Budget Reconciliation and Financing Act of 2026.
