In the latest devastating critique of the O’Malley-Brown administration’s economic policies, the Board of Revenue Estimates this afternoon reported that tax revenues will wildly miss the administration’s projections. In fact, personal income, corporate income and sales tax revenues are on track to fall more than $405 million short over the next year. According to Larry Hogan, Today’s report is utterly devastating and confirms what we have been saying, that Martin O’Malley and Anthony Brown have taxed and spent our economy into the ground. Overtaxed Marylanders are earning less, small business profits are disappearing and people have less to spend on goods and services. As governor, I’ll put partisan politics aside and work across the aisle to undo the damage of the past eight years. We’ll work together to reign in reckless spending and waste so we can roll back as many of the O’Malley and Brown’s 40 straight tax hikes as possible. It’s time for Annapolis to live within its means so people can keep more of their hard earned money. In a press release accompanying today’s Board of Revenue Estimates report, State Comptroller Peter Franchot said, Wages and salaries are essentially stagnant. Local, independent businesses are struggling to meet payroll, cover their costs and turn a profit. Working families have cut back their spending because they just dont have the money, they’re scared of losing their jobs, or, in many cases, both.
Posted on: Wed, 24 Sep 2014 22:00:00 +0000
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