| Resolving the State's Structural Deficit |
$ in Millions in Fiscal '09 |
| Raise Sales Tax from 5% to 6% * |
730 |
| Budget Reductions |
437 |
| Use FY 08 Closing Balance in Subsequent Years |
316 |
| Change to Progressive Personal Income Tax * |
162 |
| Tobacco Tax Increase ($1 per pack) * |
170 |
| Corporate Tax Rate Increase by 1%* |
110 |
Expand Sales Tax Base
(to include tanning, massage, physical fitness & real estate property management) |
74 |
| Allow Video Lottery Terminals |
27 |
| Close Corporate Loopholes |
20 |
| Local Offset (to Fund Parks) |
16 |
| *changes effective 1/1/08 |
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Source: "Resolving the Structural Deficit & Investing in Maryland's Future" from the Office of the Governor
Compiled by Maryland Newsline's David Byers; Nov. 2, 2007
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