Comptroller Franchot... on Taxes, Spending, Business Climate

Posted Date: 
December 17, 2010

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State Comptroller Peter Franchot met with the MCCC Legislative Affairs Committee on Dec. 17, highlighting what he believes are keys to restoring the strength of the Maryland economy and the state’s revenue picture. He noted his opposition to any new taxes, saying “the economy is too fragile,” and that raising taxes “takes the pressure off spending reform.”

Franchot cited the state’s presence of federal facilities as its most unique asset, calling them “incubators” to spark the growth of small, start-up firms that will create good private sector jobs. He also discussed the state’s need to control debt costs and to improve the business regulatory climate, to help spark private sector job growth.

Committee members, led by MCCC Legislative Affairs Vice-Chair Tom McElroy of Hughes Communications, Inc. and Co-Chair Josh Bokee of Comcast, thanked the Comptroller for his leadership in urging the Maryland Business Reform Tax Commission to recommend against the state’s adoption of combined reporting for corporate income taxes.

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