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Maryland raises revenue projections as economic recovery continues

March 10, 2021

Maryland officials expressed cautious optimism about the state’s economic recovery on Tuesday after raising the revenue estimate for fiscal year 2022 by $298.6 million. The Board of Revenue Estimates now projects revenue in fiscal 2022 will total $20.1 billion, representing a 1.5% increase from the prior forecast in December. Fiscal 2022 begins on July 1. For the current fiscal year, the board lowered its projection slightly by $800,000 from its previous estimate in December to $18.8 billion. Both estimates include the impact of legislation already passed by the General Assembly this year, including a $1 billion relief package.

Article Source: Baltimore Business Journal

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