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Tech Tax Repeal Receives Preliminary OK In Senate

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Apr 3, 2008 2:00 pm US/Eastern

Tech Tax Repeal Receives Preliminary OK In Senate

ANNAPOLIS, Md. (AP) ― A repeal of a computer services tax has received preliminary approval in the Maryland Senate.

The bill is on track for a final vote after several amendments offered by Republicans failed. They sought to repeal the tech tax without creating a new 6.25 percent tax on people who make more than a million dollars a year.

The levy on the wealthy would last for three years.

The computer services tax was estimated to raise roughly $200 million.

The tax on the wealthy would raise an estimated $110 million.

Another $50 million would come from a cut to the state's transportation fund. The remaining budget hole would be filled with cuts that have yet to be determined.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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