Maryland faces years of hefty budget gaps

Published November 20, 2012 12:00am ET



Maryland faces hundreds of millions of dollars in budget gaps in the coming years, even after raising taxes and taking other recent steps to boost sluggish revenue growth.

State lawmakers closed a $1.1 billion budget deficit at the start of the current fiscal year by raising income taxes on residents earning at least $100,000 a year and forcing counties to pay for rising teacher pensions. On Election Day, Maryland voters approved a gambling expansion, a move officials promised would add millions of dollars to the state’s bottom line.

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