March 11th, 2017 by WCBC Radio

The Maryland Board of Revenue Estimates this week decided to write down state revenue estimates for fiscal 2016 and 2017 by approximately $51 million from estimates made last December. State Comptroller Peter Franchot said the new estimates reflected weak sales throughout Maryland during the recent holiday season. Economic growth has continued to be stagnant in the last few months. Maryland’s total general fund revenue in fiscal 2015 was approximately $15.9 billion. The December revenue estimate for the 2016 Fiscal Year was $16.435 billion, but the March revenue estimate increased that amount to $16.444 billion.