There is a lot of concern in Maryland regarding the federal debt and reductions in federal spending — and for good reason. We have already begun to see the effects of the Trump administration’s policies, and I urge our congressional delegation to take note.

President Donald Trump committed to reducing the size of the federal workforce and moving federal jobs away from our nation’s capital during his campaign. He has, thus far, followed through with that pledge in a fashion that has been more assertive than most observers may have initially anticipated.

Trump’s effort to reduce the federal workforce could have a deleterious impact on Maryland and our economy, not only because of our current budget issues but also due to our reliance on federal jobs and contracts.

Recent data shows that 240,000 Maryland households reported $23.9 billion in federal wages annually, and this does not include income received from federal contractors who make up over 10% of Maryland’s private sector jobs.

While a responsible approach to federal spending is prudent, the cuts proposed thus far will have minimal impact on reducing our federal debt. In fact, the most recent budget proposal moving through the House of Representatives adds nearly $4 trillion more to the federal debt limit.

The growing federal debt crisis will directly impact Marylanders through increases in everyday costs, like groceries, gas and housing. In addition, Maryland’s federal workforce stands to lose jobs as federal debt payments squeeze out funds critical to maintaining those federal jobs and programs.

Having owned businesses in the real estate and financial services sectors for over two decades, I’ve spoken with scores of entrepreneurs, business leaders and working individuals throughout the state whose organizations depend on federal programs to help build and sustain Maryland’s economy. These programs have a direct impact, resulting in the creation of hundreds of jobs. The indirect effect reverberates throughout the economy through the goods and services purchased. If federal funds were to dry up, we would see an immediate decrease in the economic activity associated with the aforementioned, thereby degrading the state’s overall economic potential.

However, there is another path our leaders in Washington can take to reduce our federal debt and protect Maryland jobs.

Our congressional leaders need to focus on common-sense solutions that take a critical eye for savings to mandated spending programs, which make up a majority of the overall federal budget. By focusing on this mandated spending, we can begin to reduce our deficits and reduce the amount our federal budget spends on interest payments, as well as protect Maryland’s workforce and economy. Discretionary spending should be scrutinized but any thoughtful approach must address mandatory spending — including changes to Social Security and Medicare to ensure their viability. A serious examination of the program’s impact on the debt is in order. This is necessary if we are to begin to address what is one of the most pressing economic issues in the history of our nation.

The good news is that there is a common-sense step that our congressional delegation can champion.

Early in this Congress, a bill will be introduced to establish a bipartisan Fiscal Commission. This commission, composed of equal numbers of representatives and senators from each party, would create solutions to stabilize the nation’s finances and protect vital programs. Supporting the bill does not obligate leaders to accept the commission’s final recommendations.

However, it demonstrates their commitment to collaboratively tackling the debt crisis. It also puts them squarely in the debate over federal spending, allowing them to fight for Maryland and our interests rather than being on the outside looking in.

Residents of Maryland deserve committed leaders who continue to put people above party and prioritize the financial health of our country and its citizens.

It’s no longer an option; it’s an obligation.

Tyrone E. Keys Jr. is a financial services professional who lives in Baltimore County.