While a ballot initiative expanding gambling in the state has been heralded as a measure that would generate more money for education, officials said added casino revenue will not boost its funds.
Under state law, about 50 percent of slot-machine revenue is earmarked for the Education Trust Fund — an account dedicated primarily to public schools, but also university capital projects. The new law would allow for a sixth casino to open in Prince George’s County and would permit expanded gaming options beyond just slot machines to Las Vegas-style table games. It will go before voters in the November election as question seven on the ballot.
The money earmarked for education, however, wouldn’t actually bring in more money for state schools, but would instead offset money in the general fund so it can be spent on other state projects. The state spent about $6 billion on education funding this legislative session, and that amount wouldn’t change despite the nearly $200 million slot machines have generated since the first casino opened in 2010. The money is “largely a drop in the bucket,”said Sean Johnson, the Maryland State Education Association’s political and legislative affairs managing director, because that $200 million in the general fund would be used for something other than education.
Same thing happened when they started all this Lottery stuff in the 70's...it was for the 'children'...Look at how much went there!
ReplyDeleteListen, Maryland has a Governor who has raised taxes EVERY year he has been in office. Now, there's a scheme whereby casino operators will enjoy a 10% reduction in THEIR taxes yet the political ads in support of this claim that Marylanders won't have to pay more taxes if they vote for question 7. I ask... WHO should Maryland believe? Ocean Downs has only a half of the number of slots that they are authorized yet they plead for additional venues such as table games in order to lower Marylander taxes even more. Why? Ocean Downs still has only 50% of the machines they are approved to have. Maryland is a basket case.
ReplyDeleteAnother Bait and Switch.
ReplyDelete"Hey, we never said it would ADD to education coffers, suckers."
8:58 Wow, i remember it like it was yesterday. nothing but lies back then as well. if anyone believes what is being promoted with this bill that is supposed to fund our schools and give all of us a chicken in every pot; your easily led. you don't know your history and you are doomed to repeat those same mistakes. remember, They Lie... vote NO on 7.
ReplyDeleteI know the lottery has done that very thing. (smirk)
ReplyDeleteAll of these benefits will be on the left(ist) side of the bay. We won't see the benefit of any jobs, revenue, or increased business.
ReplyDeleteOweMalley had to wheel and deal to even get this on the referendum...after he raised our taxes.
of all the crap O'malley had done in office, whether or not casino's can have table games, is what you all decide to get your knickers in a bunch over? really?
ReplyDeleteWho the heck cares what games are legal at a casino.
Loved the OweMalley. Remember Spendenning? Two of the worst governors this state or any other have ever had. And as bad as OweMalley has been his party thinks he is a possible presidential contender in 2016. Makes sense to me since they want to destroy our economy anyway, what quicker way than to elect OweMalley president.
ReplyDeleteAnother government scam,
ReplyDeleteStop saying that is money "for the kids", start saying its "money for the politicians".
Gaming nationwide is making no money,
Will someone please tell the truth???????