Budget compromise near, Md. legislators say

The Washington Times ^ | April 12, 2012 | David Hill

[Tolerance Sucks Rocks]

Maryland Gov. Martin O'Malley said Thursday he wants to call a special session for lawmakers to raise taxes and reverse $500 million in planned budget cuts but is waiting on House and Senate leaders to meet beforehand and work out a unified plan.

During a day in which he conducted several radio and television interviews, the Democratic governor said he would call legislators back to Annapolis “a half-hour from now” but needs assurances that a special session will not include the bickering and gamesmanship that caused a revenue package to fall through Monday on the General Assembly’s last day, triggering $512 million in cuts to education, local police aid and state agency spending.

House and Senate Democrats said Thursday they are not far apart and are ready to embrace a compromise negotiators worked out Monday night but ran out of time to pass before adjournment.

“We were at a point where conference committees had met and made decisions,” said House Appropriations Committee Chairman Norman H. Conway, Wicomico Democrat. “I would think that would give us a reasonable starting point, and we shouldn’t be far off.”

In a special session, legislators could move quickly to approve a plan similar to the late compromise, which would have raised income taxes and reduced the value of personal exemptions for single taxpayers earning more than $100,000 a year and couples earning more than $150,000.

It also would have started a four-year process during which the state gradually would shift half of teacher-pension costs to counties.

Still, questions remain over the scope of a potential special session and whether legislators could take on additional issues such as gambling and other revenue proposals.

[Tolerance Sucks Rocks]

BOHICA!

Maryland “Freak State” PING!

[freekitty]

Why doesn’t he look in his bank account and others to see where the money is going? If this passes, it’s more money laundering.

[BobL]

“In a special session, legislators could move quickly to approve a plan similar to the late compromise, which would have raised income taxes and reduced the value of personal exemptions for single taxpayers earning more than $100,000 a year and couples earning more than $150,000”

Seems like they’re forgetting a zero on the millionaires’ tax. No surprise because they would never get a dime in net revenue by just going after the 1%. They have to reach into the middle class, and it looks like they’re reaching fair deep.