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Maryland forecasts a $355.7M revenue boost in 2026, but expects a $108.1M drop in 2027 due to weak corporate and tech taxes.
Maryland’s revenue forecast shows a $355.7 million increase for fiscal 2026, driven by strong personal and estate tax collections, but projects a $108.1 million drop for 2027 due to weaker corporate and IT tax revenues.
The new technology tax, intended to raise $500 million annually, has brought in only about $110 million in 2026, far below expectations.
Despite a projected $248 million surplus across the two years, officials warn of ongoing fiscal risks from economic uncertainty, federal policy changes, and inflation.
The updated figures will guide the final $70 billion 2027 budget, which aims to close a $1.5 billion gap without new taxes.
Maryland pronostica un aumento de ingresos de $355.7 millones en 2026, pero espera una caída de $108.1 millones en 2027 debido a los débiles impuestos corporativos y tecnológicos.