December 17th, 2024 by WCBC Radio

Maryland’s Board of Revenue Estimates recently approved a very modest adjustment, increasing state revenue for Fiscal Year 2025 by just point-eight percent over the September estimate. Department of Budget and Management Secretary Helene Grady said the shortfall for its $63 billion budget in FY 2025 is projected to grow next year and that is very much cause for concern…

      

“The projected general fund shortfall of $2.75 billion dollars in fiscal 2026, this is an 11% shortfall.  The DLS shared that the magnitude of the shortfall is the most significant in at least 20 years, including through the great recession.”