Analysis Shows Estimated Impact of Tax Increases.
wtopnews.com, 30 Nov 2007 (Witte, AP).
Maryland families with household incomes of more than $40,000 a year will pay more in taxes under the tax packages recently approved by lawmakers, an analysis by a nonpartisan state agency has found. . . .
Maryland's Department of Legislative Services, which conducts budget and fiscal reviews for the legislature, has compiled estimated scenarios on how 1 percent increases in the state's sales and vehicle titling taxes and changes to the income tax structure will affect taxpayers.
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The tax changes resulted from Gov. Martin O'Malley's proposals to address an estimated $1.7 billion budget deficit and to find $400 million in transportation funding annually _ proposals that were amended and approved by the General Assembly last week after a three-week special session.
When O'Malley, a Democrat, first rolled out his tax proposals, he claimed that 83 percent of Maryland residents would save a little bit of money in taxes under his approach to make the income tax more progressive. [More]Remember: Every tax-and-spend delegate and senator from Prince George's County voted to raise our taxes!