Franchot: 'Deep Tax Cuts' Offset Expected Gaming Revenue

Comptroller says the November referendum will not be about legalization of slots but "will be about the type of government Marylanders want, and the kind of state we wish to leave to our kids."

Comptroller Peter Franchot said expanded gaming legislation scheduled to be signed into law Wednesday won't generate the revenue state officials promise. "There never was a fiscal or an economic rationale for reconvening the Maryland General Assembly for its third special session in less than a year," said Franchot in a statement released Wednesday. "Any revenues that will be generated by a new casino in Prince George’s County will take several years to materialize and, if the past is any indication, have been drastically overestimated by gambling supporters and legislative analysts." Gov. Martin O'Malley is expected to sign the bill into law after 10 a.m. Wednesday, just hours after the Senate passed a final version amended by the House …

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