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Maryland Politics
Posted at 02:04 PM ET, 05/16/2012

Maryland General Assembly passes tax hike

Maryland’s General Assembly on Wednesday passed the state’s first income-tax hike in five years, targeting six-figure earners to allow continued record spending on education and other Democratic party priorities.

Under the $260 million package, income tax rates for most Marylanders who report annual income above $100,000 will increase a quarter percentage. For joint filers, the new, higher rates will kick in at combined taxable income of $150,000.

Republicans protested the tax increases and several Democrats joined in opposition, saying the state could have made cuts elsewhere to protect education funding. But the rare special session of the General Assembly largely went as Democratic leaders had scripted.

Following a final night of brinkmanship last month that ended the General Assembly’s session in disarray, the two chambers returned and made quick work of passing a tax package to stave off what Democrats had dubbed a “doomsday” budget that would have taken effect July 1.

By  |  02:04 PM ET, 05/16/2012

 
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