Maryland senators start voting this afternoon on Gov. Martin O?Malley?s deficit-reducing tax package, with major changes expected in some of the proposals.
The biggest change by the Budget and Taxation Committee is likely to be a reduction in O?Malley?s proposed 6.5 percent top rate for those making more than $500,000, bringing it down to 5.5 percent, according to Senate President Thomas Mike Miller.
Montgomery County Executive Isiah Leggett has proposed progressive rates of 5, 5.25 and 5.5 percent at various income levels, a full percentage point less than what O?Malley has asked for. “I think that?s going to happen,” said House Majority Leader Kumar Barve, D-Montgomery, revenues subcommittee chairman on Ways & Means.
Miller also said that he expected the committee to reject O?Malley?s indexing of the gasoline tax, because gas prices are already so high.
But the Senate president emphasized that the committee must still find the votes for these changes. Even with reductions in some of the tax hikes, “it?s going to be tough” to pass the whole package, Miller said.
House Appropriations subcommittees are working this afternoon to find spending cuts that need to total $500 million to $600 million, House Speaker Michael Busch has said.
