Maryland governor defends plan to raise taxes
Taxes Wednesday, January 18th, 2012
By Aaron C. Davis, WashingtonPost.com
Maryland Gov. Martin O’Malley on Wednesday defended his plan to raise taxes on residents who earn six-figure salaries or more, saying he considered it the “fairest way” to help close the state’s latest budget shortfall.
“This is not an exercise in popularity, it’s not a matter of greasing the weather vane, it’s a matter of figuring out what are the best decisions that we can make on behalf of the families we serve,” O’Malley said at a State House news conference.
O’Malley’s (D) comments touched off a daylong effort by Democrats, Republicans, special interest groups and lobbyists to begin defining what the governor’s budget means for residents and the direction of the state.
“The governor’s budget redefines ‘wealth’ … and takes aim at the middle class,” said House Minority Leader Del. Anthony J. O’Donnell (R-Calvert). “Forget millionaires, this budget takes aim at thousandaires.”
O’Malley’s $35.8 billion spending plan would increase overall spending from last year by about 3 percent, in part by raising taxes on residents making $100,000 or more.
The governor cast what would be Maryland’s first broad-based tax increase in five years as necessary for sustainable funding of rising teacher pension costs, while also fully funding his administration’s education goals and expansion of health care for the poor.
The tax increase would be targeted at the roughly 440,000 Maryland residents who filed state income tax returns last year declaring salaries of $100,000 or higher.
To read more, visit: http://www.washingtonpost.com/local/md-politics/maryland-governor-defends-plan-to-raise-taxes/2012/01/18/gIQAEI2X9P_story.html
Short URL: http://www.reteaparty.com/?p=5670
