The Tax Foundation published a new map Monday showing the migration of income between states in the decade 2000-2010, with Maryland losing $5.5 billion in taxable income along with 66,000 residents.
Read MoreGovernment spending in Maryland grew 30.5% over 10 years beginning in 2001, according to a nonprofit group that researches tax policies.
The Tax Foundation report ranks Maryland 19th overall in terms growth of government spending, which spans the administrations of three governors and two political parties.
Read MoreThe number of Maryland families who need government help to make ends meet has reached record levels. More than 700,000 people receive food assistance, the most in state history. A record 70,000 people depend on emergency cash assistance. And the demand for the state’s child care subsidy program has caused officials to impose an indefinite freeze on new applicants.
Read MoreWhile the governor has touted Maryland’s comparatively low tax burden on its high income populace, some groups are concerned that the income tax hikes proposed for next week’s special session will harm Maryland’s national rankings on taxes and business climate.
Read MoreThere was fierce opposition from a long list of witnesses in the House Ways & Means Committee Tuesday to a bill that would expand the sales tax to 30 new services, including car repair.
Read MoreMarylandReporter.com editor and publisher Len Lazarick talks about Gov. Martin O’Malley’s 2013 budget proposal with state Sen. David Brinkley, the ranking minority member on the Senate Budget and Taxation Committee and Neil Bergsman, director of the Maryland Budget and Tax Policy Institute.
Read MoreMembers of the Save Our State Coalition are hoping that putting problems caused by tight budgets on display will encourage the legislature to raise taxes. Gov. Martin O’Malley began talking about a one-cent sales tax increase he may be proposing, his first mention of such an increase.
Read MoreAs state dollars got tighter and average incomes got lower, the state’s social services offices were nearly 1,100 employees and $50 million short of what was needed to meet demand according to a new study from the Maryland Budget and Tax Policy Institute.By the institute’s calculations, the state needs 640 more case managers and 241 more clerks, along with 94 more supervisors. Many of these missing employees would work for the state in local offices, and they are most likely to work for the Department of Human Resources.
Read MoreSeveral tax watchdogs and policy analysts concerned about the state of Maryland’s economy and buoyed by a new report urged delegates to revisit a just-expired method of raising more money — extending the tax surcharge on millionaires.
Enacted in 2008, the “millionaires’ tax” taxes all net income above $1 million at a rate of 6.25%. The base tax rate for everything less than $1 million is 5.5%. The surcharge passed in 2008 to replace the sales tax on computer services was to last only three years, expiring at the end of 2010.
Read MoreBy Barbara Pash For MarylandReporter.com Maryland counties are feeling the pain of the collapse of the housing market. From fiscal 2006, the height of the housing boom, to fiscal 2010, they have lost $345 million in revenue from...
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