Budget & Spending Issues
February 06, 2012 JBudget & Spending
Last week we shared a chart showing that "transit" spending has increased dramatically while "highway" spending is at the lowest level since 1992.
This chart shows how the Transportation Trust Fund works. Every revenue stream collects into one big pot and then is appropriated.
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But are transit revenues keeping up with transit spending?
Highway users generate the lions share of revenues while consuming only 24% of total operating budget.
Transit absorbs 57% of operating budget yet only generates less than 5% of revenue!
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The big pot approach to the Transportation Trust fund allows politicians to use motorists and the trucking industry to subsidize Maryland transit that loses money yearly.
February 02, 2012 JBudget & Spending
The following charts clearly shows that under the O'Malley administration transit spending is a priority over highway spending.
Highway spending is at the lowest percentage since 1992 while transit is the highest.
Is the gas tax really about not having enough money to fix the roads or is because Annapolis politicians are crying wolf to take any attention away from their fiscal mismanagement?
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Remember hundreds of millions of dollars were stolen out of the Transportation Trust Fund and the money for projects should have been available throughout the years!
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Source - Presentation to Senate B&T Committee by the Department of Legislative Services Office of Policy Analysis on September 14, 2011
January 18, 2012 JBudget & Spending
Here are some initial highlights from Governor O'Malley's FY 2013 Budget. As more information comes up we will keep you updated.
The budget is increased by $1 billion or 3%.
Teachers pensions are shifted to the Counties by 50%.
Cap Income Tax Deductions for Higher Earners - Capped at 90% for incomes above $100k Capped at 80% for incomes above $200k
Phase-out Exemptions for Higher Earners Exemptions reduced from $2,400 to $1,200 per person for singles $100-$125k and couples $150-175k Exemptions eliminated for singles above $125k and couples above $175k
Increasing the "Flush Tax." Possibly by tying the increase to consumption.
Governor's Budget Highlights
Increasing Tobacco Prices
Possible Internet Sales Tax
Gov. O'Malley's budget highlights.
October 17, 2011 JBudget & Spending
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Governor O'Malley is considering a 15 cent increase to the Maryland gasoline tax and coincidentally on the same day the Baltimore Sun's Editorial Board endorses raising the gas tax.
It is simply disingenuous to argue that revenues have not kept up with the needs of Maryland's infrastructure concerning transportation needs.
With nearly a billion dollars being stolen out of the Transportation Trust Fund over the years it is no wonder that there is another call for increased taxes.
Governor O'Malley and the Legislature must argue that Marylanders should pay twice for transportation projects today that taxpayers paid for yesterday.
October 10, 2011 JBudget & Spending
Just this year the General Assembly passed a 50% increase to the alcohol tax after lobbying from Vinny DeMarco of The Maryland Citizens Health Initiative.
The money from the increase to the alcohol tax is being used for school construction and subsequently for propping up the General Fund which runs billion dollar plus deficits every year.
Originally the tax revenue was supposed to be for health care initiatives in Maryland
The same group is pushing for another increase to the cigarette tax to the tune of 50%.
