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Declining sales tax revenues adding to Maryland’s projected deficit

December 15, 2023

Maryland has lowered its projected revenue for next fiscal year as decreased consumer demand drives down sales tax revenue, Comptroller Brooke Lierman said Thursday. With less projected revenue and added costs from a rapidly growing state-funded child care assistance program that closed last fiscal year with tens of millions of dollars in unpaid bills, the state’s expected structural deficit has grown in recent months.

Article Source: The Daily Record

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