WAMU 88.5 : News

Filed Under:

Maryland Reports $230M Tax Surplus

Play associated audio

The state of Maryland has ended the fiscal year 2012 with more money than expected, and that could have implications for next year's budget.

Comptroller Peter Franchot released the final numbers for the fiscal year that ended July 1, showing that the state took in $230 million more than expected. The extra money is on top of about $200 million in fund balance that also is available for the upcoming budget cycle.

While revenues were higher than expected, Franchot says revenue data reflects ongoing weakness in Maryland's job market. He says the extra money should go into the state's Rainy Day Fund. The state is facing a budget deficit of roughly $500 million a year. While the extra money could help fill that, it would only be a one-time fix, because the deficit is ongoing. 

To close the gap last time, lawmakers approved a series of fee increases and an income tax hike on the state's highest-earners.

NPR

Writer James Alan McPherson, Winner Of Pulitzer, MacArthur And Guggenheim, Dies At 72

McPherson, the first African-American to win the Pulitzer Prize for fiction, has died at 72. His work explored the intersection of white and black lives with deftness, subtlety and wry humor.
NPR

Oyster Archaeology: Ancient Trash Holds Clues To Sustainable Harvesting

Modern-day oyster populations in the Chesapeake are dwindling, but a multi-millennia archaeological survey shows that wasn't always the case. Native Americans harvested the shellfish sustainably.

WAMU 88.5

Your Turn: Ronald Reagan's Shooter, Freddie Gray Verdicts And More

Have opinions about the Democratic National Convention, or the verdicts from the Freddie Gray cases? It's your turn to talk.

NPR

Trump's Cyber Comments Rouse The Democrats

As they bolster their case that Hillary Clinton is ready to be commander in chief, Democrats are seizing on Donald Trump's comments seemingly encouraging Russia to use cyber-espionage against Clinton.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.