|
| May 2012 | ||||||
|---|---|---|---|---|---|---|
| S | M | T | W | T | F | S |
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 | ||
A new national report on state budgets highlights Maryland as one of the more promising examples of economic recovery, but like most states, Maryland is still facing big budget gaps as federal stimulus dollars dry up.
Maryland’s revenues are running ahead of projections across the board for fiscal 2010, according to a report by the National Conference of State Legislatures, looking at the budgets in all 50 states. Revenues from personal income tax, corporate income tax, and sales tax are all more than were estimated back when the 2010 budget was drawn up and debated, and the report touts this as a piece of good news.
The good news, however, is misleading. Warren Deschenaux, director of the Legislature’s Office of Policy Analysis, said that back when the fiscal 2010 budget was being considered, a 5 percent across-the-board decrease in revenues was projected.
Next entry: Manufacturing growth drives the recovery
Previous entry: Local Artist Wins Federal Duck Stamp Competition