The following is a recording of Sen. Rich Madaleno’s speech on the Senate floor yesterday during the debate on increasing the size of estates exempt from the estate tax to $4 million in 2018 and to the federal level in 2019:
The change in the amount of an estate exempt from state tax has passed the Maryland Senate today. As it already passed the House, it will become law with Gov. O’Malley’s signature. The law will increase the estate tax exemption to $4 million by 2018 and equal to the federal exemption in 2019. I wrote a post arguing for a more working and middle-class oriented tax cut a week ago.
All who voted no are Democrats. The vote in the Senate was 36-10. The following senators voted NAY:
Frosh, Jones-Rodwell, Kelley, Madaleno, Manno, Montgomery, Pinsky, Ramirez, Raskin, Rosapepe.
Sen. Nancy King did not vote.
The vote in the House was 119-14. The following delegates voted NAY:
Barkley, Bobo, Carr, Carter, Fraser-Hidalgo, Gutierrez, Howard, Hucker, Luedtke, Mizeur, S. Robinson, Waldstreicher, A. Washington, M. Washington.
The following eight delegates did not vote:
Barnes, Frank, Healey, Hixson, McDonough, Myers, Simmons, Sophocleus