SAVING MONEY

 

Over the course of his tenure, Peter has led the fight against accruing more debt and irresponsible, wasteful spending – which compromise the state’s credit worthiness and ultimately leads to higher state spending and taxes.

 

As a member of the state’s Board of Public Works, Peter unapologetically speaks out against wasteful expenditures of taxpayer dollars. Since joining the Board in 2007, Comptroller Franchot has voted against 67 contracts worth more than $1 billion that he deemed to be fiscally irresponsible and not in the best interest of Maryland taxpayers. Additionally, Peter has exercised his oversight responsibilities by speaking out and opposing single-bid and single-sourced contracts that discourage competition, transparency, and accountability. Thanks to the Peter's efforts, there was a 46% reduction in single-bid contracts from 54 in 2012 to 29 in 2016. To even the playing field in Maryland’s procurement system, Peter has paved the way for minority-owned and women-owned enterprises to have a fair shot at competing and receiving contracts from the state. Since 2007, the number of state contract awards to MBEs and WBEs has increased from $1 billion ten years ago to over $2 billion today.

 

In his own agency, Peter has worked to find ways to cut costs while not compromising first-class taxpayer service. During Peter’s tenure, he has made a series of reforms to Maryland’s purchasing card program to maximize taxpayer savings, resulting in rebates totaling $47.2 million, and thanks to Peter’s leadership, over 95% of Marylanders now file their tax returns electronically through the state’s free and secure tax filing system. The reduction in paper tax return processing has increased efficiency, thereby allowing our agency to process taxpayer refunds in three business days, increasing accuracy, and saving the taxpayers $2 per electronic return filed.

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