Posted on 09/14/2011 9:19:36 PM PDT by Tolerance Sucks Rocks
Increases to the gas tax, vehicle registration fees and the titling tax were among the options discussed to raise transportation revenues during a lengthy Senate Budget and Taxation Committee hearing Wednesday.
The panel is examining ways to increase funding by $800 million a year for road projects, an issue that's likely to be one of several budget-related priorities in the 2012 General Assembly session. The legislature will also try to take another bite out of Maryland's persistent $1 billion structural deficit.
Wednesday's meeting was the third in a series of interim hearings on potential tax increases to close various budget holes. Earlier this summer, the committee discussed the corporate tax structure and taxing goods sold on the Internet. Revenues from those increases would mainly benefit the state's $14 billion general fund.
The discussion of increased tax and fee revenue for transportation comes as the state also moves forward on the largest package of toll increases in its history. That money goes toward funding a system — the eight toll facilities run by the Maryland Transportation Authority — that is separate from the general transportation system.
The toll package would raise an estimated $132 million annually when fully implemented in 2014. The authority says the money is needed to make payments on bonds and to keep up with the increasing maintenance costs of an aging system.
Gov. Martin O'Malley reflected some of the sensitivity about the toll increases in a letter this week to Transportation Secretary Beverley K. Swaim-Staley, the authority's chairwoman. The letter preceded a meeting of the independent agency's board Thursday at which it is expected to discuss possible revisions to the package.
(Excerpt) Read more at baltimoresun.com ...
Maryland “Freak State” PING!
Go for it!
Democrats across the nation are coming up with unique and refreshing new ways to ensure their defeat next election.
This ought to just about do it.
Unfortunately, even this pig-headed approach to governing probably wouldn’t be enough to oust the Democrats from control of The Peoples Democratic Republic of Maryland.
Use less energy with a POS, expensive item, and then get taxed more for it. This seems to be the path we are on...you name it...washers, refrigerators, cars...for at least the next 1.5 years, anyway.
“Democrats across the nation are coming up with unique and refreshing new ways to ensure their defeat next election.”
You know, I have actually wondered if they know that they are doomed and are now leaving a scorched earth.
I live in MD - they are proposing a 100% increase in toll on the Chesapeake Bay Bridge [from $2.50 to $5.00] by October and then ANOTHER $3.00 increase EXT year ...
Don’t know what the increase in tolls at the other places is gonna be ...
This ALL because O’Malley pushed thru a millionaire’s tax [which ONLY caused the millionaires to move OUT of MD], his MASSIVE spending increase in a bad economy, AND pushing thru slots [ONLY] when surrounding states have FULL casinos [and used MASSIVELY INFLATED revenue projections to justify getting the slots] ...
That crumbling infrastructure...funny how those billions of dollars earmarked for roads, bridges and signals always end up in the 6-figure pensions of retired highway workers, not in roads...
Gotta pay them pensions and bennies...we raise taxes to do that, suckers!
Also forgot the BIG ONE - the ICC [Inter-County Connector Toll Road, $6.25 for 21 miles]. They constructed it with funds from bonds that they CANNOT pay for SOLELY with revenue from the ICC ...
The ICC connects [when completed] I-270 and I-95, which run North-South ...
Thinking is that those who live in Upper Montgomery County [I-270 side] who work near Baltimore will use it and those who live near Baltimore [I-95 side] who work near Upper Montgomery County will use it too ...
Trouble is NOT ENOUGH PEOPLE LIVE IN THOSE AREAS - those who work in Baltimore LIVE NEAR Baltimore and those who work in Upper Montgomery County LIVE NEAR Upper Montgomery County ...
ALSO, the thinking is that commercial truck traffic coming down I-95 will use the ICC to get products to Upper Montgomery County. BUT, the cost for trucks on the ICC is gonna be about $20.00 ...
SO, trucks are gonna take I-70 EAST from Baltimore to Frederick, MD and THEN go SOUTH on I-270 to Upper Montgomery County ...
SO, IN THE FINAL ANALYSIS - THE ICC AIN’T GONNA PAY FOR ITSELF !!!
Plus there is no such thing as a highway trust fund in Matyland. Thy money in there was raided by the politicians and put in the general fund to help MD to keep a balanced budget, as required by law.
O’Bama / O’Mally ,,,, what a Presidential ticket for the 2012 election . Both have squandered millions of taxpayer funds at an extrordinary rate and hate the people who actually produce the jobs and create real revenue sources .
$5.00 in October this year, $8.00 in July 2013.
I-70 goes WEST from Balmer to Frederick. Plus, it is six lanes most of the way, like the ICC.
What funny is that, as far as I know, the MTA account (for the toll facilities) has not been raided by the politicians. It is actually all spent on projects, salaries and so on.
They are raising tolls, it seems, due to the actual need to preserve and improve a bunch of aging facilities. As far raising the gas tax, forget about it until they stop raiding the trust fund and spending a lot of it on choo-choos and buses.
Sorry about the mistake [brain freeze] ... east, west - the point is that the truckers ain't gonna pay that toll !
The toll revenues haven't been touched, but the politicians diverted the matching funds from the general account BEFORE they got into the MTA fund ...
Thus, the shortfall. ALSO, they have to start paying at least the interest on the bond issue that was raised to pay for construction of the ICC.
Their assumptions of revenue from the ICC are about 50%-65% over actual revenues. The first phase of the project is already stabilizing at about 12k of cars per day vs. the 20k per day that they "expected" ...
I didn’t know that the MTA account was subsidized from the general account. Are you sure? I though all revenues were from tolls for the MTA account.
I think the tolls cover salaries, health insurance, pensions, etc.
BUT, the maintenance of the roads, the Baltimore Tunnels, the Bay Bridge, etc. come from the general fund - that is what was raided AND it is the majority expense related to the toll facilities ...
Thought I’d pass this along to you - MTA backing down, revising toll increases ...
http://news.yahoo.com/mta-scales-back-proposed-toll-bay-bridge-153502460.html
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