Board of Revenue Estimates Archives

Governor Wes Moore 2023 State of the State

Governor Moore releases supplemental FY 2024 budget plan

Posted on March 29, 2023 by Chris Montcalmo

ANNAPOLIS, MD—This week, Governor Wes Moore announced his supplemental FY 2024 budget plan, which includes key adjustments to his first proposed budget to account for new revenue projections. The governor’s supplemental budget targets crucial investments toward rebuilding Maryland state government, bolstering public safety, ending child poverty, creating a competitive and equitable economy, and rebuilding our infrastructure. “This administration will always […]

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State employees in Maryland to receive 4.5 percent cost of living adjustment

Posted on September 30, 2022 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan this week announced that all employees across state government will receive a 4.5% cost of living adjustment (COLA) increase— effective November 1, 2022—as part of a series of measures to enhance statewide workforce recruitment and retention efforts. The governor’s action follows official budget projections from the Board of Revenue Estimates showing that, for the second consecutive […]

Governor Hogan to sign emergency suspension of gas tax in Maryland

Posted on March 10, 2022 by Chris Montcalmo

UPDATE: Governor Hogan has signed emergency legislation suspending the gas tax for 30 days. Original story below… —— ANNAPOLIS, MD—Governor Larry Hogan on Thursday issued the following statement after the Board of Revenue Estimates reported an increase in the state’s record budget surplus: “Today’s incredible revenue estimates increase our already record surplus and reinforce the fact that Maryland continues to […]

Governor Hogan: COVID-19 ‘the biggest fiscal challenge we have ever faced’

Posted on September 29, 2020 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan on Tuesday issued the following statement after a meeting of the Board of Revenue Estimates: “The COVID-19 pandemic has caused an unprecedented fiscal crisis for state and local governments nationwide, which according to Moody’s Analytics will face $500 billion in shortfalls over the next two fiscal years, with more than 4 million jobs at stake. “Today’s […]

Comptroller Franchot urges fiscal restraint with release of FY 2019 closeout report

Posted on August 29, 2019 by Chris Montcalmo

ANNAPOLIS, MD — Comptroller Peter Franchot on Thursday announced that revenues for Fiscal Year 2019 came in $216.6 million above the Board of Revenue Estimates’ projections, bringing the unassigned balance of the State’s General Fund to $351 million, or less than one percent of the total FY 19 operating budget of $44.6 billion. The final closeout numbers reflect stronger-than-expected revenue […]