ANNAPOLIS – Maryland senators approved a budget plan Thursday with nearly half a billion dollars in income tax increases for almost all Marylanders, but with a more progressive twist than taxes proposed by Gov. Martin O’Malley, according to Democratic leaders.
Senators voted 26-20 to adopt the income tax plan, which raises rates starting with earners who have taxable income of $3,001. The tax rate would climb as high as 5.75 percent for residents earning more than $500,000. All 12 Republican senators voted against the bill, as well as eight Democrats who broke party ranks.
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