Comptroller Peter Franchot and Gov. Larry Hogan’s budget secretary are both raising objections to a proposal reducing state pension payments, saving money that may be used to increase education aid and state employee salaries.
“It is a bait and switch on rank-and-file teachers and state employees,” said Franchot, as well as “bait-and-switch” on the state’s rating agencies and taxpayers.
The legislature’s fiscal leaders, in a truly bizarre move, are considering reneging — once again — on a commitment to state workers and the public by pulling the plug on supplemental state contributions to Maryland’s severely underfunded pension program.
Part of Gov. Larry Hogan’s promise to make Maryland “open for business” is a bill exempting many small businesses from the personal property tax collected by the counties.
The exemption would be given to businesses with less than a $10,000 property value, on items such as equipment, furniture, computers, tools and inventory. It applies to more than half of Maryland’s small businesses and will result in an estimated $7 million in tax relief.
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