Another dose of bad state budget news could be looming as the Maryland Board of Revenue Estimates prepares to meet later this week.
Warren Deschenaux, director of policy analysis for the Department of Legislative Services, said revenue projects “were optimistic” and now appear to be “retarded by adverse weather conditions” including the polar vortex and snow storms that have made Maryland and many other parts of the United States colder than normal.
How much of a reduction, if any, the state will take has not yet been made public.
“If (revenues) are revised they are not going to be revised up,” Deschenaux said.
Goldman Sachs economist David Mericle estimated in late February that about half of the deteriorating housing, employment and retail sales figures across the nation over the last three months is related to weather conditions, according to Business Insider.
The board will meet on Thursday.