Maryland Plans for Slot Machines to Solve Budget Deficit

On September 18th, 2007, the sales tax will increase by a cent to fund more services, Maryland residents who earn more than $150,000 will have to pay bigger income taxes and electronic slot machines will be offered in the state, according to legislators who had convened to hear Gov. Martin O'Malley discussed his budget plans.

In a meeting at the Governor's residence, Gov O'Malley discussed some of the details of what should they do to solve the $1.5 billion deficit. State officials have been studying on how to increase profits by $2 billion and the meeting gave a clear picture on what steps should the state do in order to solve the problems.

Legislators commented that an increase in the taxes imposed on gas is no longer viable and a special meeting will be held in October 2007 or late November 2007. Increases in corporate and titling taxes, which are also the main source of money for transportation needs, were also discussed by the legislature and Gov. O'Malley.

The governor wants to produce $600 million from the slot machines and will increase transportation money by $300 million without increasing the taxes imposed on gas, according to Senate President Thomas V. Mike Miller Jr., a Democrat from Calvert.

Aside from that, Gov. O'Malley plans to increase the tobacco tax to solve the budget deficit and increase the money allocated for health care. The officials who have attended the meeting were Democrats and members of budget committees.

Sen. Ed DeGrange said that the meeting was just a general presentation and the specific plans will be discussed later on. Sen. DeGrange said that they are hoping that a special meeting will be held soon because they need to solve the state's worsening fiscal condition. The legislators want to make more cuts like the county funding. Officials also plan to make some property tax relief.

Monday, 08 October 2007
Darren G. Strachan