ANNAPOLIS, Md. (AP) — Gov. Martin O’Malley and leading lawmakers say they’ve agreed on a budget plan that they expect to be approved during a 3-day special legislative session next week, including income tax hikes on people making more than $100,000.
The Democratic-controlled House and Senate were unable to agree on a spending plan during the 90-day regular session, triggering a “doomsday budget” with more than $500 million in cuts to education and other services.
O’Malley, also a Democrat, says a “balanced approach” to the state’s finances is necessary and that balancing the budget solely through cuts would “harm all of us.”
The income tax increases would affect about 16 percent of Marylanders. They would kick in for individuals making $100,000 or more or households making $150,000.
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