Federal stimulus package reflected in Maryland revenues

ANNAPOLIS, Md. (AP) — Maryland officials say federal stimulus money has made a big impact on the state’s economic outlook, even as the COVID-19 pandemic continues.

The Maryland Board of Revenue Estimates voted Tuesday for updated revenue projections. They project a 1.5% increase in fiscal year 2022 revenues. That’s about $299 million more from previous estimates for a total of about $20.1 billion.

Comptroller Peter Franchot says while the report is good news for the state’s bottom line, it doesn’t represent the experience for many Maryland families who continue to face tough financial challenges.

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