Maryland’s tax collector warned of an increased risk for an economic downturn and called for state leaders to sock away more than a billion dollars.
Comptroller Peter Franchot made his cautionary comments as the Board of Revenue Estimates projected one of its smallest write-downs — about one-tenth of a percent in the current year — in state revenue in recent years.
Franchot, who is chair of the revenue estimates panel, quoted from the popular television show “Game of Thrones” as he cautioned lawmakers to consider the specter of a recession. “I don’t want to jinx it,” said Franchot. “Nobody is in favor of recessions, but winter is coming. So, let’s prepare.”
Click here to read the rest of the article written by Bryan P. Sears over at the Daily Record