Statement on MD 2014 Revenue Estimates

Benjamin Orr, Executive Director of the Maryland Center on Economic Policy, released the following statement on the state’s projection of a $405 million revenue shortfall:

Without more widespread prosperity to fuel economic growth, we will continue to see a withering of tax revenue that funds our schools, public safety, and other vital services. Maryland’s gaping revenue shortfall reflects the economic pain that most Maryland families continue to feel, even as those at the top continue to prosper. Wages are stagnant, job growth is slow, and federal gridlock and spending cuts have spooked consumers.

To encourage a true, broadly shared recovery from the Great Recession, we need to make further investments in the building blocks of Maryland’s economy: our schools; our roads, trains, and ports; and safe communities that support healthy living. These job-creating investments also include help for those who are struggling, so that they can support themselves until they get back on their feet and help the local economy at the same time.