2007 Mid-Atlantic Economic Symposium
Murray Financial Group held its annual Mid-Atlantic Economic Symposium yesterday in Frederick. Maryland Chamber President/CEO Kathy Snyder was one of the speakers, along with Richmond Federal Reserve Bank President Jeffrey Lacker.
Lacker gave the crowd his economic outlook, focusing the outlook for inflation. You can view his prepared remarks here.
Snyder focused on what’s going on in Annapolis to deal with the state’s $1.5 billion budget deficit. “Ladies and gentlemen, tax increases are coming,” she said. “We want business to be at the table when that is discussed.”
The Baltimore Sun today reports that legislative leaders plan to put together a “doomsday budget” to show how much would have to be cut to eliminate the state’s budget deficit.
As lawmakers begin to make their cases for various tax increases, the Maryland Chamber will work to ensure they consider the overall economic impact of each proposal. The Chamber understands that taxes will be increased, but the Chamber thinks the state should proceed carefully to minimize the negative impact on the overall economy and the ability of Maryland businesses to retain and grow jobs.