Fiscal Cliff Could Change Maryland's Growing Revenue | WAMU 88.5 - American University Radio

WAMU 88.5 : News

Filed Under:

Fiscal Cliff Could Change Maryland's Growing Revenue

Play associated audio

Maryland comptroller Peter Franchot released updated revenue estimates for the state yesterday, projecting the state will bring in an additional $161 million for the next two fiscal years.

Franchot says that means the state's economy is growing, but very modestly. He adds it could all be undone, if Congress goes over the fiscal cliff at the end of the year.

Franchot also says employment is showing noticeable improvement in the state, but wage growth is exceedingly poor, with Maryland's private sector weekly earnings ranked 46th in the nation.

Also yesterday, a panel of state lawmakers recommended cutting the state's ongoing projected budget deficit of $382 million by more than half in the next fiscal year. Maryland is required to have a balanced budget each fiscal year. However, projected spending for future years has exceeded revenues in recent years.

WAMU 88.5

Smithsonian Prepares To Reach Across The Pond

The institution's Board of Regents has voted in favor of opening a 40,000-square-foot gallery in London.

NPR

Watch 'Bob's Burgers'? Now You Can Eat Them, Too

What happens when you try to make a burger out of a pun? One blog, two years, and dozens of recipes later, millions of fans can now cook up their very own Bob's burgers.
NPR

White House Won't Seek To End 529 College Tax Break

All 50 states and the District of Columbia sponsor 529 plans. Critics had called the proposal to limit them a tax hike on the middle class.
NPR

Yahoo Plans To Spin Off Remaining Stake In Alibaba

Yahoo has announced it will spin off its 15 percent stake in the Chinese e-commerce company Alibaba. Shareholders had been waiting for that decision. The move needs regulatory approval.

Leave a Comment

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