December 16th, 2024 by WCBC Radio

Stronger wage growth is driving a small increase in the revenues estimated by the state of Maryland in the next two fiscal years.  The Board of Revenue Estimates expects an increase of $262 million dollars across FY 2025 and ’26, roughly one half of one percent. Comptroller Brooke Lierman emphasized that Maryland’s revenue picture is deeply intertwined with federal government employment…

   

“Which accounts for 5.9% share of employment in Maryland.  And there are 161,000 federal civilian jobs located in Maryland and more than 240,000 Maryland households report more than $24 billion dollars in federal wages.”