Maryland lowers revenue projections following weak holiday sales

Weak holiday sales left Maryland’s budget experts writing down 2017 revenue projections by $60.6 million Wednesday. The state Board of Revenue Estimates cut its projections for the state’s fiscal year 2017 collections to $17.02 billion. The entire $60.6 million decrease was due to a significant cut in expected sales and use tax collection growth. Sales taxes are unlikely to grow as fast as previously anticipated, Comptroller Peter Franchot said in a statement. Lackluster wage growth and a stagnant…

from http://www.bizjournals.com/baltimore/news/2016/03/09/maryland-lowers-revenue-projections-following-weak.html
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