ANNAPOLIS, Md. (7News) — Maryland Governor Wes Moore released details of his $67.3 billion budget on Wednesday. It relies on $2 billion in cuts to state Government as well as nearly $1 billion in tax increases to close a nearly $3 billion budget deficit.

Maryland is facing a budget crisis and Gov. Wes Moore has said the state is going to have to slash spending and increase revenue to fix it.

Governor Wes Moore promised his budget will have $2 billion in cuts, while the General Assembly will work to close the remaining $1 billion of the deficit.