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.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.
