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State of Maryland Collecting More in Revenue Than Expected

January 2nd, 2013 by WCBC Radio

Just a few weeks  before Governor Martin O'Malley submits a budget proposal for the new fiscal year, a pair of key reports are have been released on the state's tax collections and spending. The Board of Revenue Estimates approved a report two weeks ago that indicates Maryland will collect $161-million more in taxes and other revenue than first anticipated, in the period ending June 30, 2014.  Maryland State Budget Secretary  Eloise Foster, who sits on the board,  says that’s good news. Not as impressed with the numbers  however is Comptroller Peter Franchot, who chairs the board. He says the revised revenue figures are based on income tax hikes approved this year by lawmakers,  and on casino gambling revenue.

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