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Maryland New Revenue Estimates Remain Unchanged

March 13th, 2015 by WCBC Radio

New revenue estimates for the state of Maryland won't require a downward adjustment of projections, but there aren't any extra dollars, either.  The Maryland Board of Revenue Estimates released unchanged revenue estimates this week and Board members say that's positive compared to the last two revisions last year, which required them to note Maryland didn't bring in as much revenue as they had projected.  General fund revenues are expected to be about $15.7 billion for fiscal year 2015 and $16.2 billion for fiscal year 2016. Comptroller Peter Franchot, a board member, says while the state can be relieved it's not writing down revenues, it's important not to confuse economic stability with economic growth.  Although Governor Larry Hogan has talked of tax cuts or credits, Franchot says to move in that direction at this time wouldn’t be prudent….





 

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