A little bit of everything
A tax-weary legislature has no stomach to raise needed transportation revenues. Everybody agrees that a good transportation network of roads, highways, bridges and mass transit are an essential underpinning of the Maryland economy. But there’s no agreement on how to pay for this transportation system in the 21st century.
Read moreWith the cost of college tuition and textbooks on the rise, legislators are proposing sales tax breaks on textbooks in hopes of providing financial relief to students. House Ways and Means Committee Chair Sheila Hixson and Del. Michael Smigiel advocated different versions of textbook tax breaks before her committee Tuesday. Smigiel, R-Cecil, outlined a plan for year-round tax exemption on textbooks, while Hixson proposed setting a limited time period during which students can purchase their books tax-free.
Read moreSen. David Brinkley is championing a bill to lower Maryland’s corporate tax rate saying that his legislation would bring jobs to Maryland and help state businesses “compete with Virginia.” The bill would lower Maryland’s corporate tax rate from 8.25% to 6%, a change which would make Maryland’s rate equal to that of Virginia. The tax cut would cost the state approximately $381 million in fiscal year 2014.
Read moreA new poll shows increasing support among Marylanders for abolishing the death penalty and strong backing for tighter gun controls, but strong opposition to an increase in the gas tax despite a recognition of transportation needs. While Gov. Martin O’Malley has an approval rating of 54%, only 25% of Maryland voters think he should run for president, with 58% saying he should not.
Read moreA lot of the reporters wanted to talk about guns at Tuesday’s roundtable with Gov. Martin O’Malley, and the governor did speak in general terms about the need for more gun control and mental health services. But what O’Malley really wanted to talk about was how his administration measured up to the 15 broad goals that are tracked by the governor’s “delivery unit.” Maryland did show broad progress on most of the goals since O’Malley took office, and some of the targets had already been met .
Read moreThe U.S. Census Bureau recently released its Annual Survey of State Government Finances for 2011, and it shows the “revenue crisis” politicians
Read moreHouse Republicans rejected a deal proposed by the White House Thursday to avoid spending cuts and tax increases that will
Read moreRepresentatives from the alcohol industry told the Maryland Board of Revenue Estimates Wednesday that the state’s year-old 9% sales tax on alcoholic beverages has produced stagnant growth in liquor sales in the past year, while growth in neighboring Virginia and Delaware was above the national average. Banking and real estate panelists also speaking at the board’s economic advisory forum said state and federal regulations will hinder potential private sector growth as the federal fiscal cliff approaches.
Read moreMaryland Citizens’ Health Initiative is proposing another dollar-per-pack increase to the state’s current $2 dollar cigarette tax. The cigarette tax has been raised three times in the last 15 years and has coincided with a 32% drop in cigarette smoking during that time, which is double the national average.
Read moreIn the midst of America’s fiscal crisis, economist Anirban Basu told members of Maryland’s Chamber of Commerce that it is imperative for the state to lower corporate income tax to create better opportunity to attract capital investment to offset the impact of decreased federal spending.
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