As stocks tumbled on Wall Street this week, many of us re-examined our personal savings accounts, retirement accounts and pension funds. It seemed only prudent to make sure our fiscal house was in order.
Unfortunately, under the current leadership in Annapolis, that principle has been ignored where our state is concerned.
Less then a year after a $1.3 billion tax increase, Maryland is facing a $1 billion structural deficit. This deficit was created by Gov. Martin O’Malley and the Democratic leadership’s refusal to restrain spending. It is time for the governor to stop blaming Bob Ehrlich (who left office with a huge budget surplus) and take responsibility for his administration’s spending spree.
Last year, during the special session, the massive tax increases passed by the Democrats were not used to solve the State’s budget problems. The tax increases were used instead to fund new programs and new spending. The amount of new revenue raised by the O’Malley tax package was equal to the amount of increased spending in the fiscal 2009 budget.
Maryland legislators do not have a revenue problem. They have a spending problem.
While we struggle at home to protect our future and pay our bills, the governor and the Democrats have spent our surplus, raided every fund, raised taxes, and we still have a deficit.
Last year, the House Republican Caucus presented a plan to the Governor to balance the budget, without increasing taxes, by simply slowing the rate of GROWTH in spending. Our plan was rejected.
Last week, the House Republican Caucus announced another fiscally responsible plan to slow spending, repeal the governor’s tax increases and eliminate the $1 billion budget deficit that is forecast for next year.
Our plan would provide significant tax relief — $1,750 per family — by repealing the governor’s 20 percent sales tax increase, the 120 percent increase in motor vehicle title registration fees and several other levies that were pushed through during last year’s special session.
We in Maryland are the fourth most taxed people in the nation, according to a Tax Foundation report released in August. Do we really want to rank higher on that list? Let’s repeal the governor’s tax increases, slow spending, eliminate our structural deficit and protect our state’s savings accounts.
Susan W. Krebs
Eldersburg
Delegate, District 9
