Maryland Chamber of Commerce supports slots

The Maryland Chamber of Commerce is throwing its weight behind a November referendum to authorize slot machine gambling.

The business group announced its support at a press conference Tuesday, stressing that if the referendum fails, it will be a $700 million hit to the state budget. The General Assembly approved a plan in a special session last November to put 15,000 slot machines at five sites across the state, but left it up to voters to put it into place.

"If the state does not get this money, then the General Assembly has to come back in January and cut, which is unlikely, or make new taxes," said Kathy Snyder, chief executive of the chamber.

The chamber was joined by the Maryland Teachers' Association and Maryland Association of Counties, together emphasizing the importance of education spending. About half of the slots revenue is slated to go toward education, expected to total $660 million by fiscal year 2013, according to the chamber.

Read full story [Washington Biz Journal]