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Comptroller Lierman briefs Prince George's council on federal exposure, EITC outreach and baby-bonds research
Summary
Comptroller Brooke Lierman told council members Maryland's economy remains highly exposed to federal activity — about $150 billion flows into the state annually — and urged the county to boost outreach for the Earned Income Tax Credit while exploring long-term ideas such as 'baby bonds.'
Brooke Lierman, Maryland's comptroller, told Prince George's County council members at the retreat that the state's economy is unusually tied to federal employment and contracting and that the fiscal consequences of federal cutbacks are being felt locally.
"$150,000,000,000 — that's what flows into Maryland's economy every year from the federal government," Lierman said, noting that federal pay, contracts and other direct payments represent a major share of state GDP. She said the comptroller's office produced a report with the University of Maryland analyzing federal impacts and…
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