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Comptroller Peter Franchot slams Maryland’s economy, politics after $405 million write-down

Staff reporter- Baltimore Business Journal

Maryland’s Board of Revenue Estimates slashed projected tax collections by hundreds of millions of dollars Wednesday, prompting Comptroller Peter Franchot to issue a statement blasting the state’s economic conditions and the political climate surrounding them.

The Board of Revenue Estimates wrote down projected state revenue by more than $405 million for the 2015 and 2016 fiscal years. Less than half of that, $177.1 million, was written down for the 2015 fiscal year that began in July. The remaining $228 million write-down was for next year’s projected revenue.

Read full article here from Baltimore Business Journal

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