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Home / MD: Legislators Approve $1.4 Billion Tax HikeMD: Legislators Approve $1.4 Billion Tax Hike
Last Updated on Monday, 19 November 2007 10:55 Written by rslcpol Monday, 19 November 2007 10:52
When in doubt…increase the sales tax, and taxes on businesses – that way consumers will want to spend more money because things are more expensive? Right?
The Maryland General Assembly early Monday morning approved the largest package of tax increases in state history, handing Gov. Martin O’Malley a major victory for his politically risky proposal for tax hikes, slots and budget cuts.The close to $1.4 billion in sales, income, cigarette and corporate tax hikes will go to help fund a $1.5 billion deficit next year, largely produced by increased aid to education. The hikes will also help fill a depleted transportation fund with $400 million in new money to build long-delayed road and transit projects.