Md. Revenue Estimates Drop $51M for FY16 and FY17 - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Md. Revenue Estimates Drop $51M for FY16 and FY17

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(Photo: AP) (Photo: AP)

ANNAPOLIS, Md. (AP)- Maryland revenue estimates have been revised down by $51.4 million for fiscal years 2016 and 2017.
    
The state's Board of Revenue Estimates announced the revisions Wednesday. Officials say the less-than-expected revenue indicates consumers are still being cautious.
    
Comptroller Peter Franchot says the state continues to see "lackluster growth in wages and minimal growth in high-paying jobs." He says "very weak sales" during the holiday shopping season are part of the reason for the revenue drop off.
    
Hannah Marr, a spokeswoman for Gov. Larry Hogan, says the revision "perfectly illustrates why we must use extreme caution moving forward when making decisions on our funding priorities."
    
A Senate panel is expected to vote on Maryland's budget this week. It's expected to be taken up on the Senate floor next week.

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