Legislature Approves Tax Hike, Pension Shift
Governor calls budget package "good for all Marylanders." Republicans say burden to local governments may force county governments to increase taxes.
The Maryland House of Delegates gave final approval Wednesday to a package of three bills that increases taxes on some state residents, shifts part of teacher pensions to local governments and undoes the so-called "doomsday budget." The votes Wednesday afternoon capped the three-day special session called by Gov. Martin O'Malley in order to override more than $500 million in cuts made in a budget passed in early April. The Senate approved the same three bills Tuesday. As part of the package, legislators approved by a vote of 86-51 what amounts to a 50-50 split of teacher pension costs with local governments. The split will be phased in over the next four years beginning July 1 with the new budget year. That bill also includes a doubling of…
Adam R
6:08 pm on Sunday, September 9, 2012
Both parties nationally want to forget inflation for the short term while pushing money to corporations with tax breaks to generate business which will in turn pump money back into the economy and pull us out of our 5 year recession. The problem is consumers have already been paying through the nose in the grocery store and at the gas station all of this time. Price of gas is out of control, and … more ›