March 3rd, 2012 by WCBC Radio
In Annapolis, leaders of the House of Delegates and Senate continued introducing proposals to raise income taxes in an attempt to reduce a $1 billion budget shortfall. According to the Baltimore Sun, the Senate is considering raising the income tax for almost every Marylander by a small percentage (1/4%.) The raise would counteract a tax cut made 15 years ago, whereas the House of Delegates is considering a plan that would only target the top 7-10% percent of income earners with a steep increase. Governor Martin O'Malley's proposed plan increases the taxes paid by the top 20% of income earners by reducing their tax exemptions and deductions.