Tag: Senate Budget and Taxation Committee

Tax hikes include $36M increase on business loans

The Maryland Senate is expected to give final approval today to a package of tax hikes that will raise more than $300 million a year.
But a little noticed provision will also raise $36 million in new taxes from companies that back mortgages on commercial development and homebuilding. Opponents say it will add to the cost of construction and harm Maryland’s business rankings.

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To create more jobs, Maryland must beat Virginia, senators are told

Maryland needs to be more business friendly than Virginia to create more jobs and stabilize the state’s economy, a panel of business leaders told the Senate Budget and Taxation Committee Tuesday. The hearing, scheduled to discuss corporate taxes and job creation, zeroed in on how Maryland needs to become a better place to do business than neighboring Virginia, which panelists said is the state’s only real competition in terms of getting businesses and creating jobs.

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House passes budget; Senate committee makes retirement changes

The Maryland House of Delegates passed a slightly trimmed version of Gov. Martin O’Malley’s $34 billion budget on a straight party-line vote Thursday evening. About 90 minutes before, the members of the Senate Budget & Taxation Committee passed its own version of the same budget. They agreed to most of the changes made by the House which had been suggested by the Department of Legislative Services, but they disagreed on a few key points.

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Narrow benefits bills raise issue of costs, equity

Some senators are questioning bills narrowly tailored to secure insurance and pension benefits to a small number of constituents with unusual circumstances.

The Senate passed measures last week preventing pension allowances from going down and allowing surviving family members to cash in on disability benefits in the case of a person dying before the state is able to process the application.

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Senators want more study of Red, Purple lines

Senators are asking the Maryland Transit Administration to go back and look at different options for its three proposed transit lines, two of which are in the early stages of a lengthy quest for federal aid.

When it signed off on Gov. Martin O’Malley’s budget proposal last week, the Senate Budget and Taxation Committee called for the MTA to re-examine reccmmendations to use “light rail” alignments on the proposed Red Line in Baltimore and the Purple Line in the Washington Suburbs.

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