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Article: Assembly Leaders Balk On Repealing Snack Tax; Md. Lawmakers Plow Through Heavy Agenda
- Article from:
- The Washington Post
- Article date:
- April 9, 1995
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Maryland General Assembly leaders agreed today on a broad package
of business tax cuts and credits, but they did not include a repeal
of the sales tax on snack food that had been sought by Gov. Parris N.
Glendening (D).
The package included a cut in taxes banks pay on bond income, a
repeal of the sales tax on leased cars, a reduction in the business
tax on research and development equipment, and tax credits for
businesses to hire welfare recipients.
If approved and signed by the governor, the package would cut
business taxes by $12.1 million a year at first, rising to $44.6
million a year within five years. Repealing the snack tax would cost
the state $15 million annually.
"This is going to ...