Comptroller Wants Reserved Funds Dedicated to Low Wage Earners, Small Businesses
In a virtual meeting on Dec. 11, the Maryland Board of Revenue Estimates voted to increase the revenue projections for Fiscal Year 2021 by 0.3 percent to $18.8 billion – a $64 million increase from the September estimates.
Although the figures seem like a positive sign, state officials say they also reflect that Maryland’s lowest wage earners and small businesses continue to be highly impacted economically by the COVID-19 health crisis.
State Comptroller Peter Franchot suggests that some of the available state reserved funds be dedicated to low wage earners and small business owners who need it the most.