Tuesday, March 18, 2008

Sneaking another tax increase by us

We knew it would only be a matter of time, before Gov. O’Malley found another “cash cow” to increase, personally I wondered why it took him this long! On Feb. 20th in a Budget and Taxation Committee meeting the next tax to be used to chase residents from our state came to light. All toll facilities will raise their rates to double by 2012, and that doesn’t include the incremental increases already in place by law. It took me a while to find the operating budget for 2008, but after finding it the program wouldn’t let me “cut and paste”; you don’t suppose that was on purpose do you? Double the toll rates, can you imagine paying $30.00 at the 95 toll in Perryville, if you are pulling a trailer? This is totally ridiculous, and it’s about to be forced upon us. Oh yea, I almost forgot this one! While looking through the budget I came upon wordage about how the MTA Police will be in charge at the Airport! You know the same ones we see asleep beside the light rail system……….it keeps getting scarier and scarier!

Quote from the budget page 29

Since it is doubtful that MdT A will have available bonding capacity in the future to fund its capital program, this would leave P A YGO toll revenues as the funding source. However, P A YGO funding of capital projects will be limited in the future by increasing operating and debt service costs. The ability to increase tolls higher than the currently forecasted toll increases is somewhat limited, since MdTA is already planning substantial toll increases to maintain its financial coverage ratios. Exhibit 17 shows the projected increase in toll revenues over the next 10 years. In its financial forecast, MdTA assumes toll increases in fiscal 2011, 2013, and 2015. By fiscal 2013, systemwide toll rates will be nearly double current rates.



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