STATE FISCAL BRIEFINGS, REPORTS AND ANALYSES ~ Annapolis Capital Punishment
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Friday, October 26, 2007

STATE FISCAL BRIEFINGS, REPORTS AND ANALYSES

These references are provided in case you are as confused as I am about our state's current fiscal situation, sometimes known as a budget mess or a structural deficit. The below documents from the Department of Legislative Services may help make things clearer. Then again, maybe they won't:
http://mlis.state.md.us/Other/Fiscal_Briefings_and_Reports/Fiscal_Br_Rep_Ana_Index.htm
Perhaps we should just ignore this whole thing and it will go away, or let the "experts" sort it out. Yes--the same experts that will once again be flooding our fair town for a special session. CP recalls when Walter Mondale was running for President and he said domething like "The difference between me and the other guy is he'll say he won't raise taxes and then he will. I'll say I will raise taxes and then I will." Of course Mondale lost-right? But what happened to tax rates? Well, paying taxes is all part of having a government and if you want a civilized society, well, you gotta pay. We all just want to make sure that our tax dollars actually work for us. Here is how one legislative aide to a Senator described the Governor's proposal to CP:

Well, the governor has proposed a 1% sales tax increase, a 1% car titling tax increase, a modest slots proposal, a revamping of the income tax structure (one that would cut taxes for the majority of Marylanders, but wealthy folks would pay a great deal more), an expansion of taxable services under the sales tax, increasing the corporate tax rate by 1% and closing tax loopholes for businesses in Maryland. The specific bills have not been seen yet, but that's generally the gist of it.

In addition, there is talk of reintroducing the Green Fund legislation, as well as a "health care for all" proposal just released a few days ago by the Governor. So, read away...
Hmm.. CP is curious. Why do some people refer to his sales tax increase as a one percent increase, while others call it a twenty percent increase? If you go from five cents on a dollar to six cents on a dollar, it may be only one percent more (the per cent meaning per hundred or on the dollar) but if you are also in effect increasing the tax payment YOU AND I PAY from five cents to six cents on every dollar, the overall increase in the sales tax WE WILL BE PAYING-will be twenty percent--right?
Read away!
2007
Analysis: March 7, 2007 Supplemental Budget No. 1, Presentation to the House Committee on Appropriations
Analysis: March 8, 2007 Supplemental Budget No. 2, Presentation to the House Committee on Appropriations
Analysis: March 12, 2007 Supplemental Budget No. 1, Presentation to the Senate Budget and Taxation Committee
Analysis: March 12, 2007 Supplemental Budget No. 2, Presentation to the Senate Budget and Taxation Committee
Briefing: June 27, 2007 Maryland's Fiscal Structure and the Deficit Within
Briefing: June 27, 2007 Mandated Appropriations in the Maryland State Budget
Briefing: June 27, 2007 Balancing the Budget Without New Revenues
Briefing: June 27, 2007 Appendices
Report: July 2007 - Effect of the 2007 Legislative Program on the Financial Condition of the State
Briefing: September 26, 2007 Overview of Maryland's Revenue Structure, Presentation to the Senate Budget and Taxation Committee
Briefing: October 2, 2007 Overview of Maryland's Revenue Structure, Presentation to the House Ways and Means Committee

Posted by Paul Foer at 2:56 PM

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