HB 465 has been introduced to the House Ways and Means Committee in Maryland by Delegate Justin Ready. The bill would reduce Maryland’s state sales tax from 6 percent to 5 percent effective 1 July 2013.
Del. Ready explained the reasoning behind introducing such a bill was to help struggling Maryland families and to spur economic growth. He also stated that the bill would allow time for some spending decreases on the part of the State. Opponents of the bill question whether the state can afford a reduction in their state sales tax while facing a budget deficit.
We will continue to monitor this legislation and post updates as they become available.