ANNAPOLIS, Md. (AP) — Maryland income taxes would rise and a split of teacher pension costs with local governments would be phased in over four years instead of one, under changes to Gov. Martin O'Malley's budget plan that were approved by the Senate Budget and Taxation Committee on Thursday.
The panel also voted to close loopholes that some counties have used to avoid maintaining the amount of money they are required to spend on education.
The income tax increase was described by supporters as modest for people in lower tax brackets, as higher earners would pay more. For example, single taxpayers who make up to $25,000 a year would see their state income tax rise from 4.75 percent to 4.9 percent. Single taxpayers who make between $75,001 and $150,000 would see an increase from 4.75 percent to 5 percent.
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