What's the consequence for Maryland? First and foremost, our excise tax policy is hurting jobs and spending here in our state. In the marine industry, the rule of thumb is that a boat owner spends about 10 percent of a boat's value each year on maintenance and other work. For a boat worth $500,000, that's $50,000 of spending at the marinas and boat repair shops in other states, instead of Maryland. And with studies showing that every six boats registered in a state generate the need for one new position in the marine industries, we are talking about a real impact on jobs, too.