March 7th, 2025 by WCBC Radio

Maryland’s Board of Revenue Estimates announced a $280 million dollar reduction in the estimated General Fund balance on Thursday. Board Director Robert Rehrmann said uncertainty around the federal government was a main driver in the downcast…

   

“Even though there are court challenges, we do believe there is a determination to significantly reduce federal spending and employment and that is going to be a negative shock to our economy. That’s going to harm Marylanders, businesses, our economy, our non-profits, and our state revenue structure.”

The reduction draws attention to how much the state is tied to federal contracts and grants for defense, veteran affairs, and other services…

   

“A draw-down in federal contracts and grants can affect the economy. Quite frankly, there’s a staggering amount of money that flows to Maryland in contracts and grants.”