If we're speaking in generalities, by now we've got a pretty good idea of what's in the federal government's economic stimulus package. Still, I've been looking for a concise summary of what Maryland's take of the $787 billion stimulus will be.
I should've known that Beverly Richard would find it first. She's pretty reliable that way.
Bev, who chairs the MACPA's State Tax Committee and is expected to join the association's Board of Directors in July, recently shared a document titled “American Recovery and Reinvestment Act: Impact on Maryland Governments” with subscribers to the MACPA's state tax listserve. (And if you're not following the MACPA's tax listserves, you don't know what you're missing. Subscribe here.)
The document, which comes from the Office of Policy Analysis in the state Department of Legislative Services, claims Maryland governments will receive more than $3.7 billion from the stimulus package. That money includes the following:
- $2.2 billion for fiscal stabilization and Medicaid to relieve stress on state and public school budgets
- $765 million in infrastructure grants
- $396 million for education aid
- $102 million in grants to local governments not appropriated in the state budget
- $285 million in other grants
Gov. Martin O'Malley claims the allocations “will create or save up to 66,000 jobs here in Maryland.” We'll see. In the meantime, the Department of Legislative Services' document outlines Maryland's take in remarkable detail.
And Bev, as always, thanks for doing the dirty work for us.