To the People

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or TO THE PEOPLE.

Tuesday, January 01, 2008

Welcome to the New Year and Its Higher Taxes

As a District resident I never thought that I would see the day that MD and VA raised taxes and DC did not. But that day is here. This month the biggest tax hikes in MD and VA history go into effect. Maybe I should bless the dysfunction of the DC schools as expensive families keep moving out of the city.

In Maryland:
Maryland will begin implementing the largest tax increase in state history today, when higher tobacco, vehicle titling and corporate income taxes and sweeping changes to personal income tax rates go into effect.

The overhaul of Maryland's tax structure, which became law in November after a frantic special legislative session, will generate new revenue to help solve the state government's festering budget problems. Lawmakers also passed legislation requiring about $550 million in budget cuts. The cuts and new tax revenue are expected to close a projected budget deficit of at least $1.5 billion next fiscal year.
In Virginia:
If you plan to sell a home, buy a car or get a vehicle repaired in Northern Virginia, it's going to cost a bit more starting today, because of the transportation bill passed by the General Assembly last year.

Lawmakers gave the Northern Virginia Transportation Authority the power to impose taxes and fees that are expected to raise as much as $325 million a year for road and transit improvements. About $75 million of the annual revenue will be earmarked for Metro and the Virginia Railway Express.

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