Tag: debt limit

Maryland close to hitting debt ceiling in 5 years

Maryland could be within $43 million of hitting its debt ceiling in fiscal year 2017, according to projections presented to the Capital Debt Affordability Committee on Friday. Maryland has a self-imposed limit on debt service of 8% of all revenues received. This means that only 8% of revenues in a given year can go toward principal and interest on state bonds.Currently, the state’s debt service payment is 6.9% of its revenues. By 2017, debt service is projected to be 7.8% of revenues. (By comparison, the interest on the federal debt this year is about 10% of total revenues.)

Read More
Loading

Support Our Work!

We depend on your support. A generous gift in any amount helps us continue to bring you this service.

Poll

How would you rate Gov. Larry Hogan's job performance?

Facebook