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More Red Ink For Maryland

December 16th, 2014 by WCBC Radio

Green and red are the colors of Christmas, but you might excuse Maryland Governor Elect Larry Hogan if he'd like to see less of the red.

The Washington Post is reporting the Board of Revenue Estimates is now projecting that revenues will be $123 million less than anticipated this fiscal year, which runs through June.  What's worse, the shortfall for next year is expected to be $148 million.

A projected two-year budget shortfall in Maryland has grown to nearly $1.2 billion, including a gap of $300 million this year and $600 million in FY 2016.. 

Hogan says it's no surprise.  Those in the outgoing administration are blaming the shortfall on federal budget cuts.

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