Maryland considers iGaming to boost tax revenue

Maryland considers iGaming to boost tax revenue

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Maryland considers iGaming to boost tax revenue

Maryland is thinking about boosting taxes in order to provide additional funding for transportation and education.

Legalizing internet gambling is one option they are considering, as it may result in more tax income. The House believes that internet gambling may improve Maryland’s financial problems, therefore it has suggested a 1.3bn dollars proposal.

Rising expenses are making it difficult for the state to support Blueprint for Maryland’s Future, its K–12 education strategy. Although there is enough money set aside for the next fiscal year, there are worries regarding future funding.
Adrienne Jones, the Democratic speaker of the house, stressed the need of prioritizing increased income generation in order to solve long-term problems rather than depending on band-aid solutions.

However, approving a constitutional change by three-fifths of voters in each house would be necessary for legalizing internet gambling, which would be a difficult procedure. November is the deadline for voting on this change.

To solve the financial issues for transportation, the House proposal also calls for an increase in the corporation tax, car excise tax, registration fees, and toll levies. Senators are worried about the strain these measures may put on Marylanders and the possible harm they may do to the state’s economy.

Prior to the General Assembly’s April 8 adjournment, local officials are anticipated to deliberate over these recommendations and decide on budgetary matters.

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