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Stimulus Money is a Stop-Gap, Not a Solution
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Stimulus Money is a Stop-Gap, Not a Solution
MARYLAND - 2/18/2009
By Pete Hurrey
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EDITOR’S NOTE: On Wednesday, Feb. 4, Maryland’s Comptroller invited 5 media and news organizations to join him for an informal look at the state’s economic situation and to discuss what needs to be accomplished in order to move Maryland through the difficult economy. TBN was the sole news organization invited from Southern Maryland to attend that meeting. During the meeting, everything from ethnic diversity to delinquent child support payment was discussed with open candor. What follows is the third of three planned articles about the information provided. Peter Franchot has modeled his tenure as Maryland State Comptroller after Maryland icon, Louis Goldstein and is determined to see Maryland survive these disastrous economic times. His position on the forthcoming stimulus money for Maryland is that the state needs to correct the way it looks at budgets and providing services to its citizens.
“People have to remember that this money, while helpful in the short term, is a one-time influx of capital that will not be replaced,” said Franchot during an informal meeting with select media outlets at his offices in Annapolis on Feb. 4. “We need to take a very hard look at the way we spend our money and the services we provide.”
Franchot spoke passionately about the need for Maryland to form a blue ribbon panel with the sole purpose of studying every facet of Maryland’s revenues and expenditures to provide answers to the state, which like so many other states across the country, are on the brink of insolvency.
“We need to put the top government, economic and business minds to work on this problem and correct the way we operate,” said Franchot.
The Comptroller admitted that he is a democrat and as such leans toward a larger role for government, but with the current economic situation, both the right and the left side of the aisle are beginning to think more alike on spending, taxes and the way Maryland’s government operates.
The Comptroller has already begun the process of reducing costs within his department while stepping up efforts to increase tax revenues by more diligent collection efforts.
“We still have many tax programs that will help those that need it most,” explained Franchot. “There are many earned income tax credits available to more people than ever before.”
The State has managed to maintain many tax credit programs including some that provide checks to people who most need help. “Our offices around the state will still help prepare tax returns for free,” said Franchot.
No matter the outcome of the coming stimulus package and the initial impact on Maryland and its citizens, Franchot is determined to keep Maryland afloat and to providing help and assistance to as many people as possible for the long term benefit of the state.
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