Md. Senate passes $5,000 job-creation tax credit
The Maryland Senate on Friday unanimously passed a measure that offers a $5,000 tax credit to companies for workers they hire off the unemployment rolls.
Gov. Martin O'Malley (D) had included a $3,000-per-worker tax credit in his legislative agenda as part of a focus on job creation this legislative session. O'Malley's budget caps the availability of the credit at $20 million.
Republicans have questioned whether the credit will be sufficient to spur hiring by companies struggling to turn a profit. But all 14 GOP members of the Senate joined their 33 Democratic colleagues in voting for the measure Friday.
A similar measure has yet to clear the House of Delegates.
In a statement, O'Malley praised the Senate for its "swift action."
"This bi-partisan effort to help Maryland workers and businesses is much-needed," O'Malley said.
O'Malley's focus on job creation mirrors that of many other governors across the country, as even as some analysts have suggested there is a limited amount they can do.
Separately Friday, Senate Finance Chairman Thomas M. Middleton (D-Charles) announced that a compromise had been reached on another bill of interest to the business community: one that revamps the state's unemployment insurance system.
February 26, 2010; 4:04 PM ET
Categories: General Assembly , Governor , John Wagner
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