Comptroller Peter Franchot | Checks, Balances & Taxes – Fiscal Matters for Minority Business

About the Episode:

The term “fiscal matters” concerns a business’s financial transactions. It encompasses many areas, including checking and balancing accounts, taxes, and expenditures. Maryland’s Comptroller, Peter Franchot, ensures that the tax dollars collected from these businesses are spent wisely. He has been a champion for improving schools and strengthening our communities which is vital to economic development where we live, work, and play. Join this great discussion.

The Honorable Peter Franchot has served as Maryland’s 33rd comptroller since 2007. First elected to his current post in 2006, Comptroller Franchot has been re-elected three times; most recently in 2018, during which he received 1.6 million votes – the highest number of votes cast for any candidate for state government office in Maryland history.

As Maryland’s chief fiscal officer, Comptroller Franchot is a tireless champion for working families and small businesses and is a stalwart advocate for fiscal policies that strengthen our state’s economy. As chief executive officer of a 1,100- person state agency, Comptroller Franchot is focused on delivering respectful, responsive, and results-oriented taxpayer service, and the Maryland Comptroller’s Office, under his leadership, he is considered one of the most effective and efficient Comptroller’s Office in the nation.

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Here’s What You’ll Get In This Episode

[00:22] Episode intro and a quick bio of today’s guest

[06:38] What has been inspiring Peter Franchot into public service

[08:29] The less known Board of Public Works in Maryland

[10:57] How he has fought for inclusivity of minority businesses in the award of contracts

[16:04] What are the future opportunities for minority-owned businesses in Maryland

[19:12] Federal tax reliefs that cushioned most businesses

[22:55] How has Maryland protected her people from the inevitable covid effects

[27:04] Tax forbearance and how it has worked during the pandemic

[29:55] Creating Small Businesses Reserves and its benefits

[33:44] The place of minority businesses at the national level table

[38:07] Ending the show and call to action

Notable Quotes

  • Public policy dictates the behavior in the marketplace
  • A rising tide in the economy lifts everybody
  • More economic activity means more wealth for everybody
  • Where there’s no public safety, the economy stagnates

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