Maryland Reports $230M Tax Surplus | WAMU 88.5 - American University Radio

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

An 'Epilogue' That Makes Sense Of The Chaos Of Memory

In his episodic memoir, Will Boast meets the siblings he never knew while navigating family deaths and secrets. Critic Ellah Allfrey finds Epilogue conceptually ambitious, but lacking in execution.
NPR

Giving Chickens Bacteria ... To Keep Them Antibiotic-Free

What does it take to get chickens off antibiotics? According to Perdue Farms, an added dose of the "good bacteria" known as probiotics can help crowd out the harmful microbes that make a chicken sick.
NPR

Why Did Congress Kick The Can On Funding Islamic State Mission?

The president got approval for his plan to train and equip Syrian opposition fighters, but lawmakers didn't approve funds to pay for it or the broader air campaign.
NPR

Some Tech Firms Capitalize On Privacy

Steve Henn of NPR's Planet Money team profiles some entrepreneurs who are working on a novel business model to start up a new tech company. It's pay for service. What a concept.

Leave a Comment

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