A noted economist told members of Maryland’s Chamber of Commerce the state should lower corporate income tax rates to attract capital investment and offset decreased federal spending.
Anirban Basu said Maryland is three times more vulnerable to the impact of federal reductions than any other state. Some 2.1 percent of Americans work for the federal government, while 5.2 percent of Marylanders get a federal paycheck.
With extensive cuts scheduled for the Department of Defense and National Institutes of Health, both mainstays of Maryland’s economy, Maryland is in for a “world of hurt,” Basu said.
No comments:
Post a Comment