Fiscal Forecast: Warning or Watch?

On the latest episode of the Conduit Street Podcast, Kevin Kinnally and Michael Sanderson break down the driving factors behind Maryland's current fiscal picture, economic trends, and what it could mean for the next legislative session and beyond.As previously reported on Conduit Street, the Board of Revenue Estimates adopted a revised estimate for fiscal 2024 – a  minor write-down of $14.1 million – and the first official estimate for fiscal 2025.And while the State closed its books on fiscal 2023 with an unassigned general fund balance of $555 million, the Department of Legislative Services warns of looming structural deficits over the next four years, a stark change from last January, when DLS projected billions in structural surpluses between fiscal 2023 and fiscal 2028.The Conduit Street Podcast is available on major platforms like Spotify, Apple, Google, and anywhere else you get your podcasts. Episodes are also available on MACo's Conduit Street blog.Previous Conduit Street CoverageState Revenue Forecast Largely Unchanged: Inflation, Looming Shutdown Elevate RiskBoard of Revenue Estimates Approves Modest Adjustments to Current, Future Forecasts