ANNAPOLIS, Md. — Maryland is anticipated to lose $280 million in revenue over the next two years.
The Board of Revenue Estimates cited declining tax revenues and looming federal cutbacks as the reason.
All fingers point to Washington, D.C., as the reason. Democratic state officials say it is the worst-case scenario that materialized quicker than expected and worse than feared.
“The Trump administration is delivering an unnecessary negative shock to our economy,” said Maryland Comptroller Brooke Lierman. “No accurate economic model exists to predict President Trump’s behavior.”
Another reason for the revenue decline is the decline in personal income taxes as federal layoffs shrink the state’s tax base.
The slash in corporate income tax reflects a weak business climate, and sales tax cuts amid economic uncertainty impact consumer spending. Democrats blame the Trump administration.
“Today, we are witnessing the direct, real and painful results of the Trump administration’s chaotic moves in Washington,” said Guy Guzzone, D-District 13, chairman of the Senate Budget and Taxation Committee.
“Sobering,” said Ben Barnes, D-District 21, chairman of the House Appropriations Committee. “It reflects President Donald Trump, who is intent on decimating our federal workforce, cutting services for those who need it most. And in doing so, wrecking our economy.”
So now it’s Trumps fault that our state democrats are spending us into oblivion. Got it
Of course they are ignoring the fact that to date President Trump has brought in more than $2 Trillion investment for jobs from various companies in various areas of the economy.
Wes Moore would be wise to work with Trump and get some of those jobs for misplaced Marylanders.
The blame lies on Wes Moore and the Democratic Party of MD. What happened to all of the revenue from the casinos and marihuana dispensaries?
good point. I might add, because I remember, casinos and gambling was on the ballot as a referendom and it was voted NO. That didn’t stop Martin O’Malley from taking his kickbacks and ignoring the citizens of Maryland.
A new tax option is gaining traction that would generate $1 billion to help close the deficit.
the DemonicRats answer to everything!
How about u aholes stop raping your citizens?
did that thought ever cross your minds?