The Maryland Public Policy Institute
Baltimore's fiscal future begins now
The news came like a blindside hit on the quarterback: Three days after the Ravens won the Super Bowl in February, independent financial analysts released a report predicting that Baltimore was on collision course with “financial ruin.”
When Maryland voters visit the polls this November, they will vote on much more than our nation’s next president. This year’s ballot contains an unprecedented seven ballot questions – allowing residents the most direct influence over state-level decisions in 30 years. One of the largest and most controversial issues is gambling expansion, only four years after Maryland first legalized gambling to raise money for public education and other under-funded capital projects.
On November 4, 2008, Maryland’s citizens voted to amend the state constitution to legalize commercial gaming for the first time. The amendment allowed for the creation of up to five casinos with video lottery terminals (VLTs) in specified locations within Maryland. A major political motivation for this approval was to raise funds for education. But another was the fact that Pennsylvania, Delaware, and West Virginia had already built casinos near the Maryland borders and were attracting Maryland residents. Emulating those states would keep the economic activity and the tax revenue at home.
ECONOMIC & FISCAL POLICY
ECONOMIC & FISCAL POLICY
ECONOMIC & FISCAL POLICY
ECONOMIC & FISCAL POLICY