Senator Johnny Mautz warns of half a billion dollar shortfall in projected revenue

MARYLAND – Maryland could be drawing in significantly less money in terms of tax revenue according to state officials, as a new report from the state’s board of estimates is forecasting a tax revenue shortfall of half a billion dollars.
Senator Johnny Mautz says the board has been extremely accurate in its forecasting in the past, and those dollars are directly tied to funding sources for multiple state programs.

Mautz says that businesses heading into the busy summer season should take note of this marker and plan for some belt-tightening.

“That is an estimate of the revenue coming in and they pulled back 500 million dollars so to me that is very important point of reference for businesses to keep in mind as to what is going to happen with the economy if the government is expecting less money to come in you have to think businesses should be prepared to also see some adjustments,” he said.

Senator Mautz also says the eastern shore delegation is committed to helping protect businesses and will be hearing from them often before the beginning of the next legislative session.