Mary­land rev­enue down $250 mil­lion from pro­jec­tions

Baltimore Sun - - AROUND THE REGION -

Comptroller Peter Fran­chot an­nounced Tues­day af­ter­noon that state rev­enue col­lec­tion is down $250 mil­lion from the es­ti­mates used to build the bud­get last year. Wages did not rise as much as ex­pected, nor did how much peo­ple spent. While em­ploy­ment in­creased, most of the new jobs were low-pay­ing ones, Fran­chot said. Al­though the state has less cash on hand than ex­pected, Mary­land ended the 2016 fis­cal year with nearly $200 mil­lion left over. Still, that bal­ance is $100 mil­lion lower than what Bud­get Sec­re­tary David Brink­ley es­ti­mated ear­lier this month. Then, Brink­ley an­nounced his boss, Repub­li­can Gov. Larry Ho­gan, was choos­ing not to spend $80 mil­lion set aside by the leg­is­la­ture. The $200 mil­lion sur­plus will carry for­ward into the next fis­cal year. Law­mak­ers and the gov­er­nor this spring had hoped to use the big­ger pro­jected sur­plus to fi­nance tax cuts, but ne­go­ti­a­tions col­lapsed in the fi­nal hours of the ses­sion with­out an agree­ment on what to cut.

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