- Associated Press - Tuesday, October 25, 2016

ANNAPOLIS, Md. (AP) - The Latest on a fiscal briefing with Maryland lawmakers about budget problems (all times local):

3:50 p.m.

Maryland’s leading budget analyst says state lawmakers and policy makers need to “get real” about addressing ongoing budget shortfalls.

Warren Deschenaux, the legislature’s chief budget analyst, told a panel of lawmakers on Tuesday that the state appears to be in a period of comparatively slow economic growth. He says the state needs to trim its sails in order to accommodate that.

The long-time budget adviser for the state says lawmakers typically respond to shortfalls by making annual adjustments in hopes that better times will come. But now he says Maryland doesn’t have a recession to attribute hundreds of millions of dollars in shortfalls.

He says “getting real” means not “budgeting up to every possible dime,” though that requires discipline.

___

10:36 a.m.

Maryland lawmakers will be getting a briefing on the state budget.

Analysts with the Department of Legislative Services will give an overview on Tuesday in Annapolis. They’ll be speaking to lawmakers who are on legislative committees that focus on financial issues.

Last month, Maryland officials revised state revenue projections down by $365 million for the current fiscal year. They also reduced revenue projections for the next fiscal year, which begins July 1, by $418 million. The downward revisions reflect less-than-expected tax collections due to a sluggish economy.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide