MD Board Of Revenue Estimates Lowered Projections For 2017


The Maryland Board of Revenue Estimates voted Wednesday to make some changes to projections the next two years. The vote was to reduce revenue projections for FY 2017 by over $35 million but raise them for 2018 by $2.3 million. This still means a total reduction of $33 million for the next two years. These choices come directly from President Trump’s civilian federal hiring freeze. Comptroller Peter Franchot said the freeze will have a direct impact on Maryland’s economy though lost wages and lower sales tax revenue, but “we must continue to make prudent decisions that keep our state’s fiscal house in order.”