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Budget and Taxes
Like the federal government, Maryland continues to run projected structural deficit and the pressure to increase taxes and not make tough cuts continues to grow. State employee benefits, promised education funding and Medicaid expansion are the driving factors of concern in the out years.
Although it was the alcohol retailers that took the most visible hit with a 3% increase in the alcohol tax – behind the scenes there remains much discussion of the need to increase other taxes. Include in those taxes being discussed are increases in the gasoline and sales tax as well as a tinkering with the current income tax rates for millionaires and other high earners.