By Megan Poinski Megan@MarylandReporter.com CORRECTION: With a slow economic recovery, increases in retirement costs and the end of federal stimulus funds, Maryland is facing a $1.6 billion budget gap and a $2.1 billion structural gap for fiscal year 2012, analysts...
Day: November 11, 2010
Businesses, groups disagree on combined reporting
By Megan Poinski Megan@MarylandReporter.com During a two-hour-long parade of witnesses before the Business Tax Reform Commission on Tuesday night, one point came through repeatedly: what is best for the state’s corporate tax code is not obvious. Person after person...
Health advocates want tobacco funding restored
By Barbara Pash For MarylandReporter.com Speakers from a coalition of health organizations -- including the American Cancer Society and the American Heart Association -- called for Governor Martin O’Malley to restore tobacco prevention funding that has been reduced...
$1.6 billion budget gap predicted
With a slow economic recovery, increases in retirement costs and the end of federal stimulus funds, Maryland is facing a $1.6 billion budget gap and a $2.1 billion structural gap for fiscal year 2012, analysts from the Department of Legislative Services told a joint General Assembly hearing on Wednesday.
Warren Deschenaux, director of policy analysis for the DLS, said that the $2.1 billion gap is not guaranteed: It could get smaller depending on factors such as the new revenue projections due next month or revenue growth rates, which are exceeding expectations in the first four months of fiscal 2011.
Businesses, groups disagree on combined reporting
During a two-hour-long parade of witnesses before the Business Tax Reform Commission on Tuesday night, one point came through repeatedly: what is best for the state’s corporate tax code is not obvious.
Person after person came before the commission with impassioned recommendations, most of them dealing with combined reporting.
Health advocates want tobacco funding restored
Speakers from a coalition of health organizations — including the American Cancer Society and the American Heart Association — called for Governor Martin O’Malley to restore tobacco prevention funding that has been reduced over the years with a rally at Lawyer’s Mall in Annapolis on Wednesday.
The state is annually supposed to fund prevention efforts with money from the Cigarette Restitution Fund — where Maryland gets about $155 million each year from a billion-dollar legal settlement with tobacco companies — and from taxes paid on tobacco, said association lobbyist Eric Gally.
State Roundup, November 11, 2010
STATE BUDGET: After an uptick in revenue this fall offered a glimmer of hope that Maryland's recession-ravaged budget might be improving, new state data shows just the opposite: Rising Medicaid costs and a drop in federal stimulus funding have left an even bigger gap...
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