Posts Tagged ‘budget surplus’
Del. Realty Transfer Tax Could Be Reduced Under New Legislation
Delaware’s realty transfer tax would be reduced by 25-percent under a bill with bipartisan sponsorship in the General Assembly. (HB 358)The transfer tax, which is typically split between the buyer and seller of a home, was increased five years ago during difficult economic times that faced the state.The measure has 15 Republican sponsors and 13…
Read MoreDel. Rebate Program Advances In General Assembly
A program to make direct one-time payments to Delawareans of $300 is halfway through being approved by the General Assembly.The 2022 Delaware Relief Rebate Program (HB 360) was overwhelmingly approved in the House of Representatives Thursday. It was introduced just a few days earlier, with the goal of helping hundreds of thousands of people meet…
Read MoreMd. Gas Tax Targeted As State Revenues Surge
Maryland revenue projections for the current and upcoming fiscal years have been revised upward by $1.6-billion, prompting more calls to provide Marylanders with tax relief. The Maryland Board of Revenue Estimates (Comptroller Peter Franchot, Treasurer Dereck Davis and Budget Secretary David Brinkley) voted Thursday to increase revenue projections to $22.5-billion for Fiscal Year 2022, up…
Read MoreDel. GOP Lawmakers Will Again Press For Tax Relief Bills
Sponsors of bills to cut taxes for Delawareans will try again to get surplus state revenues returned to taxpayers. Republican lawmakers have introduced a total of five bills that look to reduce Delawareans’ tax burden. Representative Rich Collins, R-Millsboro is sponsoring a measure (House Bill 191) that would cut the state’s personal income tax rates…
Read MoreGov. Hogan: Use Md. Surplus For Tax Relief, Rainy Day Fund Growth
What should happen with Maryland’s recently reported budget surplus of $2.5-Billion? Governor Larry Hogan said Thursday that a significant portion should be saved for the state’s Rainy Day Fund. Hogan also wants to revisit a proposal to provide retirees with tax relief to keep them from moving out of the state. And, he wants to…
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