Our colleague Mark Newgent posted a roundup of yesterday’s activities in Annapolis here.
Without duplicating it, this is where we think we stand after the first committee votes. Be sure to visit the Legislative Scorecard to see which delegates and senators are picking your pocket.
O’Malley asked for a rate that capped at 6.5%. According to Andy Green at the Sun, in deference to MoCo and HoCo it looks like the rate will cap at 5.5% Mark’s report indictates the top rate will be 6%.
It goes to 6% and it exempts those services who complained and taxes the bejeezus out of the services who thought the were safe. Go figure. Read Senator E. J. Pippin’s three page list of new businesses to be taxed posted by Brian Gill.
At this juncture the gas tax indexed to whatever wage rate the construction unions can negotiate seems dead. However, this is a helluva payoff to the unions who contributed heavily to O’Malley and most of the Democrat caucus so it is much too early to say this battle is won. It looks like 1¢ or so of the sales tax will be put in a “lockbox” for transportation.
A 6% tax on titling of motor vehicles is a go. There is a possibility that the value of car for taxation purposes may be reduced by the value of any trade-in.
Property tax reduction
It ain’t happening. I don’t think any of us are all that surprised about that.
Corportate income tax
Raised from 7% to 8%. Except for the “combined reporting” loophole.
Corporate transfer tax
It’s a go.