The State of Maryland expects to lose $2.8 billion — including just shy of $1 billion in income tax revenue — in just three months due to disruptions from the novel coronavirus pandemic, according to an early worst-case scenario estimate from the Maryland Comptroller’s office. Andy Schaufele, director of the state’s Bureau of Revenue Estimates, said the total loss amounts to 15% of the state’s entire general fund for fiscal 2020, which ends June 30. He said withholding from employees —…
from https://www.bizjournals.com/baltimore/news/2020/04/10/maryland-predicts-2-8-billion-loss-in-state.html?ana=RSS&s=article_search
via https://baltimorecheckbook.tumblr.com/post/615030957025755136
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