The Senate Budget and Taxation Committee completed its work on a $63.1 billion budget last Friday approving budget decisions of its subcommittees and those before the full committee. Debate on the spending plan will begin tomorrow to be finalized this week and sent over to the House Appropriations Committee for consideration. The spending plan makes [...]
To relieve budget pressures and address structural shortfalls that are projected to grow to approximately $3 billion by fiscal year 2029, legislators have introduced SB 766 (HB 1007) to implement combined reporting for corporations doing business in Maryland. Other tax revenue generating changes in the bill include - raising taxes on people whose income is [...]
On Thursday the Board of Revenue Estimates revised its fiscal 2024 and 2025 estimates to reflect a $120 million and $134.9 million negative change in estimated tax revenues. Slowing withholding collections is the cause of reductions in the personal income tax forecast. Additionally, fiscal 2024 sales tax estimates were revised down by $34.7 million. There [...]
Governor Moore recently announced the Moore-Miller Administration's 2024 Maryland General Assembly’s legislative agenda. This 16-bill package focuses on making Maryland safer, more affordable, more competitive, and making Maryland the state that serves. The Moore-Miller Administration included three bills focusing specifically on Public Safety. The Victim Compensation Reform Act, SB 471, would provide quicker access to [...]
Amid large state fiscal challenges, progressive groups and lawmakers are hoping to pass a variety of tax reforms. Once fully phased in, the yet-to-be introduced bill would raise $1.6 billion for the state general fund annually which could potentially offset the large projected budget deficits. Additionally, this increased tax revenue could pay for tax credits [...]
Manis Canning & Associates (MCA) is extremely proud to celebrate its 50th year of advocacy in Annapolis! MCA’s roots date back to 1974 when George Manis began representing the Motion Picture Association of America, a nationally respected Association that remains a valued MCA client to this day. Since that time, Manis Canning has grown to [...]
Members of the Manis Canning & Associates (MCA) team, Natasha Mehu and Andrea Mansfield, presented to the Maryland Association of CPAs this week discussing the State's fiscal outlook. The presentation titled "Maryland’s Fiscal Outlook – The Good, the Bad and the Ugly" shared data and information on the State's near-term budget outlook, fiscal year 2025, [...]
Executive and legislative leadership broached the hard subjects of potential tax increases, budget cuts, cost shifts, and other tough decisions that will need to be made as the state faces a structural budget shortfall at the 2024 MACo Winter Conference last week. An article in Maryland Matters offers key insights and quotes from the presentation. [...]
With the recent departure of members of the General Assembly, three new members prepare to take their seats. One, Delegate Kent Robinson (District 25 - Prince George's County), was sworn in the end of May to replace Delegate Darryl Barnes, who joined a lobbying firm. Another, Malcolm Ruff (District 41 - Baltimore City), was recently [...]
The Center for Alcohol Policy recently released its 2023 National Survey. Key survey findings include: Solid support exists across party lines for state regulation of alcohol Americans are satisfied with current alcohol regulations Americans want alcohol laws to prioritize safety The three-tier system is viewed as working well by Americans This year’s survey, as in [...]
