Governor O’Malley proposes no revenue increases; relies on a second federal stimulus bill and revenue from slots to make up $2 billion shortfall.
From The Sun:
“The plan includes no new taxes and allows the millionaires’ tax to lapse. It also assumes that the state will bring in $85 million in gaming revenues from Maryland’s fledgling gambling program. O’Malley’s budget also relies upon $389 million from a second federal stimulus program, though Congress has not yet approved that aid and there is no guarantee that it will materialize.”
Full article here.
