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Maryland Budget Makers Head Into Deliberations With $800 Million Revenue Gap

December 5th, 2016 by WCBC Radio

Maryland budget makers will head into deliberations on next year's spending plans with about $800 million less than they had previously expected, after revenue estimates were cut Wednesday. The revised projections released by the state Board of Revenue Estimates put a damper on the prospects for more spending or significant tax relief as Republican Governor Larry Hogan heads into his third General Assembly session next month.  State revenue officials estimate that Maryland will collect $365 million less than expected in the current budget year and $417 million less for the budget lawmakers will consider during the 90-day General Assembly session next year. Together with a previously reported $250 million shortfall for the budget year that ended June 30, the state faces a more than $1 billion revenue gap for the three-year period.  State Senator George Edwards tells WCBC News that it’s difficult some of the top agenda items will be until the fiscal picture becomes more clear…





 

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