In a few days Gov. Larry Hogan will present his proposal to close the state's budget gap. Shortly after, Mr. Hogan will learn that his proposed cuts won't be enough.
The annual operating budget of Maryland is financed by fees, taxes and borrowing. Which narrows Mr. Hogan's options to either raising taxes or cutting spending.
It's time to take a close look at the Maryland Stadium Authority. According to its 2013 annual report, it needed a $13.6 million supplement from taxpayers — which it lists as "contributions from primary governments."
If Mr. Hogan takes a closer look, indicators of profitability such as return on assets and free cash flow paint a more dismal picture. Positioning the stadium authority for an initial public offering could easily give the state hundreds of million of dollars in proceeds for 35 percent of its valuation.
When the Stadium Authority truly operates as its own entity it will be good for Marylanders.
Mark M. Spradley, Chevy Chase