Wednesday, February 17, 2021

State of Maryland squandered $3 Billion and what do we have to show for it?

State of Maryland squandered $3 Billion and what do we have to show for it?


Al Ritter

 

As I reported back in 2008 in a previous article the Tobacco Industry entered into a settlement in 1998 with the state of Maryland to fund smoking cessation programs and also direct funding for relief to individuals because of tobacco related illnesses.

From 1998 to 2020 Maryland has received over $3 Billion from this settlement and while pocketing most all the money into the general slush fund has spent little to nothing on cessation programs (.03%)

I warned Marylanders then that the spending Democrats would get so used to this money that they would never rein back spending after the money disappeared. The settlement was only for 25 years and is due to expire in 2023.

Fast forward to Maryland’s new tax and spend bill SB 496 otherwise known as the Kirwan Bill. Gov. Hogan vetoed the bill but the legislature overturned his veto. House Dems disguised this bill as “Recovery for the Economy, Livelihoods, Industries, Entrepreneurs, and Families Relief Act.”

Here’s the kicker funding for this program will come from doubling cigarette taxes and flavored cigarettes and cigars. Although it will hardly make up the difference in lost income from the Tobacco Settlement of 1998 it’s a sure sign that the legislature is desperately looking for ways to make up the lost money! So where has the majority of the $3 billion gone Peter Franchot? 

https://www.tobaccofreekids.org/assets/factsheets/0365.pdf

http://alspoliticalview.blogspot.com/search?q=tobacco+settlement

https://www.marylandattorneygeneral.gov/Pages/Tobacco/escrowact.aspx


3 comments:

Bob S said...

I had NO idea how much the state had received from that settlement! This is disgraceful!

Unknown said...

The state definitely has no problems spending our money and no problem raising taxes!

Anonymous said...

Wait till they start collecting the BILLIONS in new taxes under the new education funding plan.