Budget Comes Down To The Wire For State Lawmakers
ANNAPOLIS, Md. (WJZ) — It’s down to the wire for Maryland’s legislative session and just in time, lawmakers are trying to come to a compromise on the state’s embattled budget.
Political reporter Pat Warren has the last-minute changes from Sine Die.
In less than an hour, Sine Die could cost tens of thousands of Marylanders millions more to live in the state.
Marylanders will spend $36 billion to keep the state in operation in the coming year.
“None of this was easy. The budget, as it concludes, will not be the budget I’d submitted…but it won’t be exactly the Senate budget or the House budget, either,” said Governor Martin O’Malley.
And more of that money may be yours. Taxpayers earning less than $100,000 will see no change, but individuals making more than $100,000 and couples earning $150,000 or more will see their taxes go up and their exemptions go down.
“It will be the product of a compromise, one that protects our priorities of education, job creation and allows us to move forward as a free people facing tough times and with the willingness to make the tough decisions called for,” O’Malley said.
Lawmakers are also proposing another $60 million in cuts.
The other big news for Marylanders is what will not happen. There will be no increase in the gas tax or in the state’s sales tax.
The General Assembly also raised tobacco taxes and doubled the flush tax.