The Maryland Chamber of Commerce supports the passage of Maryland’s November 4 slots referendum.

“On November 4, when Marylanders go to the polls, we encourage them to vote ‘yes’ on Question 2,” said Maryland Chamber President/CEO Kathleen T. Snyder, CCE. “The slots referendum is a reasonable alternative to tax increases that would otherwise be needed to stabilize Maryland’s shaky finances.”

State spending continues to exceed state revenues, and fiscal analysts predict that the state’s budget deficit will grow to nearly $1 billion next year. Marylanders are already faced with $1.3 billion in new taxes, about half of which will be paid by Maryland businesses.

The Maryland Chamber believes that, for the sake of Maryland’s competitiveness, additional tax increases should be avoided. Enacting the slots referendum is one way to increase state revenues without tax increases. Maryland already has tax rates that are well above average and not competitive with neighboring jurisdictions, including the 4th highest individual income tax rate, the 11th highest sales tax rate and the 16th highest corporate income tax rate.

Since 2002, the Maryland Chamber has supported carefully regulated slot machines in limited locations to fund public education. Marylanders are spending millions of dollars each year on this form of entertainment outside the State. The Maryland Chamber believes that we should keep this money at home to help fund public education. To learn more about the November 4 slots referendum, visit www.formaryland.org.