Maryland Budget Shortfall Grows to $1.2 Billion - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Maryland Budget Shortfall Grows to $1.2 Billion

Posted: Updated:

ANNAPOLIS, Md. (AP)- A projected two-year budget shortfall in Maryland has grown to nearly $1.2 billion after a revised forecast from a state panel on tax collections and the state's sluggish economic growth.

The Board of Revenue Estimates projected Monday that revenues are falling short of previous projections for this fiscal year and next year. The board said the state will collect $123 million less than previously projected this fiscal year, which ends in June. The board also projected revenue will be another $148 million lower than expected the following year.

The revised projections increase the previous budget gaps of nearly $300 million this year and $600 million next year. Maryland's general fund budget totals about $16 billion.

In a statement, Gov.-elect Larry Hogan said the latest numbers are "no surprise," but he said the growing deficit adds to the challenge he faces when taking office in January.

The deficit "will require difficult budgetary decisions that we must make to ensure that Maryland government lives within its means," Hogan said. "Maryland families and businesses must make difficult financial choices every day, and now our state government must do the same."

Hogan's first budget proposal is due to the state legislature just two days after he takes office.

The latest shortfalls were blamed largely on federal spending cuts. Revenue projections have been lowered for personal income taxes, a reflection of slower job growth.

Some budget cuts could come before Hogan takes office. Comptroller Peter Franchot urged departing Gov. Martin O'Malley to present options in early January to the Board of Public Works, a panel that has the power to make budget cuts when the legislature is not in session.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Delaware State Fair Kicks Off in Harrington

    Delaware State Fair Kicks Off in Harrington

    Jul 19, 2018 6:58 PM2018-07-19 22:58:00 GMT
    Thursday, July 19 2018 6:59 PM EDT2018-07-19 22:59:32 GMT
    HARRINGTON, Del. --- The 99th Annual Delaware State Fair kicked off Thursday in Harrington. The event runs for 10 days at the fairgrounds and features amusement park rides, food vendors, agriculture exhibits, and other events like concerts. The event starMore
    HARRINGTON, Del. --- The 99th Annual Delaware State Fair kicked off Thursday in Harrington. The event runs for 10 days at the fairgrounds and features amusement park rides, food vendors, agriculture exhibits, and other events like concerts. The event starMore
  • 40 German Shepherd's Removed From Kennel Near Pocomoke

    40 German Shepherds Removed From Kennel Near Pocomoke

    Jul 19, 2018 6:34 PM2018-07-19 22:34:00 GMT
    Thursday, July 19 2018 6:37 PM EDT2018-07-19 22:37:06 GMT
    Jolindy's Kennel (Photo WBOC)Jolindy's Kennel (Photo WBOC)
    Jolindy's Kennel (Photo WBOC)Jolindy's Kennel (Photo WBOC)
    POCOMOKE, Md. - Last Friday Dog Control in Westover received an anonymous complaint about Jolindy's Kennel stating that the property is dirty and there were concerns for the dogs living there. Linda Brown is the owner of the kennel and she was surprised wMore
    POCOMOKE, Md. - Yesterday 40 German Shepherds were removed from Jolindy's Kennel. More
  • Nearly Half of July's Overdoses Were in Sussex County

    Nearly Half of July's Overdoses Were in Sussex County

    Jul 19, 2018 6:11 PM2018-07-19 22:11:00 GMT
    Thursday, July 19 2018 6:16 PM EDT2018-07-19 22:16:19 GMT
    (Photo: AP)(Photo: AP)
    (Photo: AP)(Photo: AP)
    SEAFORD, De- The opioid epidemic continues to ravage the nation, including here in Sussex County where nearly half of the deaths from drug overdoses this month are from Delaware's southern-most county.More
    SEAFORD, De- The opioid epidemic continues to ravage the nation, including here in Sussex County where nearly half of the deaths from drug overdoses this month are from Delaware's southern-most county.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices