Workgroup raises questions about Maryland s flawed unemployment system delmarvanow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from delmarvanow.com Daily Mail and Mail on Sunday newspapers.
Comptroller Peter Franchot speaks at a pandemic spending workgroup meeting on Wednesday afternoon (Screenshot)
@BryanRenbaum
Comptroller Peter Franchot Wednesday emphasized the importance of ensuring accountability and continued oversight over the distribution of the billions of dollars in pandemic assistance that Maryland’s businesses received from both the state and federal government over the past 14 months.
“With so many taxpayer dollars being disbursed, it is both morally and fiscally prudent that we continue to evaluate these transactions to guard against waste, fraud, and pandemic profiteering,” Franchot said at a meeting of the comptroller’s workgroup on pandemic spending.
Franchot, a Democrat, has been the state’s tax collector for 14 years and is a candidate governor in 2022. He praised Gov. Larry Hogan’s administration for what he called a “commitment to work closely” with the workgroup to ensure both accountability and oversight over the relief funds.
Maryland s revenues are strong, even as jobs continue to lag
Maryland s revenue picture is far better than previously expected thanks to the massive federal stimulus packages that boosted spending, state economic forecasters said Tuesday.
But despite the good financial news, the state still has a long way to go toward recovering jobs, particularly in lower-wage industries hit hardest by COVID-19.
The state s Board of Revenue Estimates met Tuesday and approved revenue projections of $18.8 billion for the current fiscal year, down only slightly from an estimate approved in December, and $20.1 billion for fiscal year 2022.
Compared to March of last year, before it was clear that COVID-19 would upend the economy, Maryland s revenue estimates are about $185 million lower than expected.
State Roundup: Franchot urges aid for lower income residents as revenue estimates come in
MarylandReporter.com photo
REVENUE ESTIMATES HIGHER, BUT $600M-$700M LESS THAN PRE-COVID: Bryan Renbaum of MarylandReporter.com spoke with Comptroller Peter Francot on Friday. He said that while revenue estimates improved since September – which he called a surprise – “We are still $600 million or $700 million less than what we should have been pre-pandemic.”
The state’s chief tax collector, an announced candidate for governor in 2022, called on Gov. Hogan (R) and Democratic leaders of the General Assembly to approve a one-time stimulus payment to lower-wage workers, Bruce DePuyt of Maryland Matters reports. “I have identified $1.5 billion in state reserves that could be spent immediately to prevent evictions, feed the hungry, provide medical care, and also support small businesses,” Franchot said.
Maryland revenue better than expected, but state comptroller says more stimulus is needed wtop.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wtop.com Daily Mail and Mail on Sunday newspapers.