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Maryland in disequilibrium [Commentary]
Maryland in disequilibrium [Commentary]

How did it come to this? Between 2007 and 2012, the State of Maryland raised taxes and fees 24 times according to Change Maryland, including raising income taxes during a 2012 special legislative session, increasing the sales tax on alcoholic beverages from 6 percent to 9 percent in 2011, and levying a hospital assessment that year. Despite these revenue enhancements, the state faces unexpectedly large fiscal deficits this year and next. What was estimated to be a $300 million surplus for fiscal year 2014 is now an $87 million deficit. The gap for fiscal 2015 is estimated at roughly $400 million, according to Maryland's Department of Legislative Services. Given anticipated...

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