Goldstein sees optimism in rising tax receipts

Maryland Watch

July 13, 1996

State Comptroller Louis L. Goldstein says consumer confidence is climbing in Maryland.

Marylanders' optimism is reflected in the 3 percent jump in Maryland sales- and use-tax receipts of $169 million in June, up $5.4 million from a year ago, he said yesterday.

"The spending rebound we noticed this spring continues to hum along," Goldstein said.

Cumulative sales- and use-tax receipts for the first 11 months of fiscal 1996, ending June 30, totaled $1.81 billion, up 2 percent over the $1.77 billion collected during the same period in fiscal 1995.

Goldstein said sales of computers and other capital goods have been "very strong, reflecting a resurgence in consumer confidence and spending."

The taxable food and beverage category produced $380 million for the first 11 months of fiscal 1996, up 2.3 percent from the same period a year earlier.

General merchandise, which includes department and discount stores, produced $339.4 million, up 4 percent. Maryland collected $248.2 million in the furniture category, up 7.3 percent from the 1995 period.

Pub Date: 7/13/96

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