Md. House Republicans Discuss Fiscal Issues
ANNAPOLIS, Md. (AP) — Maryland House Republicans say the state shouldn’t use money that had been planned to strengthen the long-term finances of the pension system to fill a budget hole.
The House Minority Caucus released an alternative budget plan on Tuesday.
The GOP plan would restore the full $300 million that lawmakers had agreed to pay annually above required pension payments when lawmakers approved a new pension plan in 2011.
Democratic Gov. Martin O’Malley had proposed capping the payment at $200 million. The state Senate decided to cap the payment at $100 million, while gradually restoring it to $300 million in several years.
The full House is expected to consider changes to budget legislation on Wednesday for the state’s $39 billion budget.
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