Updates from Delegate Warren Miller

I just received an email update for the Regular Session of the MD General Assembly from Delegate Warren Miller. I always appreciate his candor and willingness to keep his constituents informed, so I thought I would post part of his email here.

"... I wanted to update you on the problems the State has moving forward with the Annual Budget.

"Maryland’s Governor O’Malley has submitted the largest budget in Maryland history. In spite of its already bloated proportion, rest assured there will be several amendments offered which will include huge infusions of Federal stimulus money... It is time for Maryland’s leaders to take responsibility for their irresponsible actions perpetrated on the citizens of this fine state. How shameful it is for us to see our Governor approaching the President for money to bail us out. We can stand on our own, but we must stand responsibly and with fiscal discipline.

"I am very concerned about the size and scope of spending and the state of Maryland’s current economy. I have many neighbors and friends who are currently without work. In reviewing the new budget I see a heavy reliance on welfare assistance for the poor, but I am not witnessing the supposed creation of "new" shovel ready jobs that would put many people in Howard County back to work. I see this budget as a shovel digging a financial hole that will require years of sacrifice and discipline to fill. I do not believe this Governor has the discipline or the will to lead us to recovery.

"... At some point we must stop punishing our small business owners with burdensome regulation and unfair taxation so that they can get back to creating new jobs. Prosperity is not selfish, but rather, a reward for a lifetime of hard work. I am appalled that as a State we are spending well beyond our means. I would like to share with you my determination to once again vote against the States massive $31,600,000,000 budget...

"Maryland is the 19th largest State in the country based on population and yet the non-partisan Tax Foundation ranks Maryland as the state with the 4th highest State and Local Tax burden. This is an equation that can only equal disaster. There is no logical reason why this should be. The Foundation study goes onto rank Maryland as having the 45th worst economic environment for Business taxes. If this administration were as interested in the human plight as they are carbon footprints, this truth may not exist. Unfortunately, businesses of all sizes will likely find greener pastures from which to graze and move out of Maryland to find new hope and change.
In closing, I would like to thank you for paying attention to issues in the General Assembly that are important to you and as always I love to listen to your views. I will continue to fight wasteful spending and high taxes so that Maryland can begin the process of recovery."

Updates on the Stimulus Package and More Legislative Updates

Well, there may be some changes to what I blogged last time - here's what I just received from Mike Homberg, a Branch Manager at 1st Mariner Bank:

Here is what has passed and you can see (the) affect (on) our industry:

For qualified home purchases in 2009, the legislation:

Stipulates that the $8,000 tax credit does not have to be repaid, unlike the tax credit passed last summer;
Keeps the tax credit refundable, or claimable regardless of tax liability;
Extends the sunset date from July 1, 2009 until Dec. 1, 2009 so that consumers can utilize it during the critical summer and fall buying months;
Allows tax credit home buyers to participate in the mortgage revenue bond program; and
Permits state housing finance agencies to help buyers at closing by advancing the credit amount as a loan using tax-exempt bond proceeds. (If CDA adopts this, it could be a great opportunity for 1st time buyers because they will have the money upfront to spend.)

So, I don't know yet whether we get $8000 or $15000 for home buyers, but I do know that the National Home Builders Association was saying that it had to be $15000 and was working for that number. We'll wait and see as more changes come up.

I also heard from State Delegate Warren Miller today with a run down on what's happening in Annapolis. They started voting on bills this week, but as there are 1307 bills in the House and another 915 in the State Senate with more to come, they've got their work cut out for them this session. He had some good information about some "Bad Bills" coming up, one for selling garments with fur or other animal products and one for presumption of abandonment on gift certificates. Since it doesn't have to do with housing, I won't post it here, but feel free to write to me or to Del. Miller for more information.

From his email: "The Maryland General Assembly's website address is mlis.state.md.us You are welcome to review all bills that have been filed for this session and then let me know your opinion. I also encourage you to come to Annapolis and make your views heard. You can email me at warren.miller@house.state.md.us to find out more about the Legislative process."

It is our duty and privilege to learn more about our government and how it works. At a course yesterday on 2009 Legislative Updates it was pointed out by a classmate that "some looney" from down the road might really want something done and keeps bugging their legislator until to get rid of them, the legislator may introduce a bill suggesting their (the looney's) idea. (These are technical terms, folks!) If we don't pay attention to what's going on in our government and speak up, then not only might this crazy idea get passed, but it then reflects upon all of us and affects all of us.

I've been told that one call or email from us to our legislators is worth the thoughts of 500 people. So make your voice heard! Speak up for the things that are important to you!

$15000 Tax Credit for Homeowners?

Yesterday, the Senate passed an un-precedented Economic Stimulus package worth $838 Billion, more than the one suggested by the House at $819 Billion, in the hopes that Pres. Obama will sign it on President's Day next week. There's still scant Republican support for the bill and some of the items on it are questionable, in my mind and the minds of many others, (such as $1B for improving parks, which is nice but has nothing to do with stimulating the economy!) but it will provide a great opportunity for home buyers. A $15000 tax credit for people purchasing their primary residence is proposed.

According to the article linked above, "The bipartisan amendment to the stimulus package, offered by Sens. Johnny Isakson (R-Ga.) and Joe Lieberman (D-Conn.) and approved by unanimous voice vote, would create a $15,000 home buyer tax credit available to all purchasers of a principle residence for one year after its date of enactment. The tax credit would not have to be repaid and buyers could claim it against their 2008 and/or 2009 tax returns.

The $15,000 home buyer tax credit would replace and sunset a much narrower tax credit that was enacted last year. Available only to first-time home buyers, the current $7,500 tax credit works like an interest-free loan that must be repaid over a 15-year period. It is set to expire on July 1.

Extending and expanding the home buyer tax credit will spark the activity the economy needs to stop shedding jobs and begin creating them, said Robson."

While the First Time Buyer tax credit loan was a great idea, I really love the idea of offering ALL buyers a $15000 tax credit that does not need to be repaid! This will help reduce the overloaded inventory of homes available throughout the country, allow first time buyers a huge incentive to purchase a home at a great rate and help slow foreclosures and increase consumer confidence, which is certain to have a positive reaction in recovery from this tough economic time.

While this change affects me directly and that makes me happy, I still can see such a wonderful outcome for the country that I have to applaud it for it's own sake.

I met with Senator Allan Kittleman and our Howard County District 9 Delegates Warren Miller and Gail Bates on Wednesday night at the Dist. 9 Open House in Annapolis - along with a couple hundred other people I guess! However, in talking with Warren and with Gail, who are both Republicans, I can see that they are happy that legislation will be taking place that will help the recovery. They are all working hard to protect our interests in Howard County, and though I now live in Carroll County, I'm still proud of the jobs that they are doing. I spoke briefly with my current Senator, David Brinkley, who is wonderful and always willing to talk with his constituents. I spoke with Senator Larry Haines for Westminster, who is also a Realtor, so I see him regularly, but he does an excellent job also.

If you have the opportunity to meet with your elected officials, please do so. They love to hear what is going on in the community.