In Case You all forgot, here is the list of Taxation and Spending under OMalley and the Democraps


2007 SPECIAL SESSION TAXES & SPENDING

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2007 SPECIAL SESSION NEW TAXES
($ in Millions)

Increase
Motor Vehicle Title Registration Fee-HB5                      $23 to $50                    120%

Car Titling Tax-HB5                                                            5¢ to 6¢                       20%

Cigarette Tax-  HB2                                                           $1 to $2                       100%

Retail Sales Tax-HB2                                                        5¢ to 6¢                         20%

*Expansion of sales tax to computer services-SB2

State Corporate Income Tax-   SB2                                 7% to 8.25%                  18%

Electronic Bingo & Tip Jar Amusements-HB2               20% tax on net receipts
New Transfer Tax on Real Estate Transfers-SB2
(through sale “controlling interest)

Personal Income Tax Brackets Revised–SB2
Single, Depend Filer, Married Filing                      Joint, Head of Household, Widower
Rate                 MD Taxable Income                             Rate                 MD Taxable Income
2.00%              $1 – $1,000                                         2.00%              $1 – $1,000
3.00%              $1,001 – $2,000                                  3.00%              $1,001 – $2,000
4.00%              $2,001 – $3,000                                  4.00%              $2,001 – $3,000
4.75%              $3,001 – $150,000                              4.75%              $3,001 – $200,000
5.00%              $150,001 – $300,000                          5.00%              $200,001 – $350,000
5.25%              $300,001 – $500,000                          5.25%              $350,001 – $500,000
5.50%              Excess of $500,000                           5.50%              Excess of $500,000

* Repealed in the 2008 Regular Session and replaced by a new law that imposes a temporary surcharge in tax years 2008 through 2010 of 6.25% on the amount of taxable personal income that exceeds $1 million.  Known as the “Millionaire’s Tax”

2007 SPECIAL SESSION NEW SPENDING PROGRAMS
($ in Millions)

Geographic Education Cost Index (GCEI)                                           $38

Health Care Expansion Program-SB6                                                 $77

Chesapeake Bay Fund-HB5                                                                 $50

Higher Education Investment Fund                                                       $55

Helicopter Replacement Fund-HB5                                                      $33

Prince George’s County Hospital – SB6                                              $20

http://www.mdsenategop.com/special-session.html

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