2-Week Federal Shutdown Could Cost Md. Millions
ANNAPOLIS, Md. (AP) — Maryland’s governor’s office says a two-week federal government shutdown could cost the state millions in reduced income tax revenue and reduced spending on taxable goods.
In addition, Gov. Martin O’Malley’s office said Thursday, there could be more revenue losses from the furloughing of federal contractors working in the state.
Income tax revenues could be reduced by $40 million; spending on taxable goods could drop by more than $160 million.
The hits would come when Maryland is struggling in its economic recovery.
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