The U.S. Capitol Building. (Photo: Elliot P.)

The U.S. House of Representatives late on New Year’s Day approved a Senate plan to avoid the worst effects of the “fiscal cliff,” a potentially devastating package of tax increases and spending cuts that would have struck Maryland particularly hard.

But while some taxes will not increase on Americans earning less than $450,000 a year, the bipartisan deal only delays spending cut negotiations, allowing the next Congress to deal with that issue and the ballooning national date before a late February deadline.

The former chairmen of President Barack Obama’s debt commission were dismayed by inaction on that front. Former Sen. Alan Simpson, R-Wyo., and Democrat Erskine Bowles, Obama’s former chief of staff, said in a joint statement that the deal was a “missed opportunity.”

The men had established the bipartisan Campaign to Fix the Debt, which in Maryland included former members of the administrations of Republican Gov. Robert L. Ehrlich Jr. and Democratic Gov. Martin O’Malley.

“Our leaders must now have the courage to reform our tax code and entitlement programs such that we stabilize our debt and put it on a downward path as a percent of the economy … It is now more critical than ever that policymakers return to negotiations that will build on the terms of this agreement and the spending cuts,” the statement said.

“These future  negotiations will need to make the far more difficult reforms that bring spending further under control, make our entitlement programs sustainable and solvent, and reform our tax code to both promote growth and produce revenue.

“We take some encouragement from the statements by the President and leaders in Congress that they recognize more work needs to be done.  In order to reach an agreement, it will be absolutely necessary for both sides to move beyond their comfort zone and reach a principled agreement on a comprehensive plan which puts the debt on a clear downward path relative to the economy.”

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A report released Tuesday by the Cato Institute names the best and worst governors for economic growth.

And while Maryland Gov. Martin O’Malley avoided a failing grade — five governors received an “F” — the second-term head of state is only barely passing, by Cato’s standards.

O’Malley, by presiding over a bevy of tax increases since taking office, received a “D” in the institute’s report, eight points worse than his frequent sparring mate, Virginia Gov. Bob McDonnell, a Republican whose policies earned him a “C.”

Of the 16 governors to earn a “D” or worse, 12 were Democrats. All five who received failing grades were also Democrats, while the four governors who earned an “A” grade, including Pennsylvania Gov. Tom Corbett, were Republicans.

In commentary published by The Wall Street Journal on Tuesday, Cato tax policies Director Chris Edwards singles out business taxes as a much-needed area for reform in federal and state government.

“The Council on State Taxation found that state and local levies on businesses totaled $644 billion in 2011, or more than double the annual cost of the federal corporate income tax,” Edwards wrote. “True, the federal corporate tax rate is too high relative to other countries’ and is hurting American competitiveness. But business property taxes, sales taxes imposed on business purchases, and myriad other anti-investment levies imposed by state and local governments also impede economic growth.”

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Apparently tired of frequent attacks from Maryland Republicans, who routinely condemn the state’s Democratic leadership for developing a business-unfriendly attitude in the state, members of the executive branch have authored blog posts and editorials telling their side.

And now, the battle has gone to YouTube.

The state Department of Business and Economic Development posted a quirky, two-and-a-half minute video Friday that rebuts the claims of organizations such as Change Maryland that deride Gov. Martin O’Malley for taxing wealthier Marylanders, a practice that the group says has led to a mass exodus of state taxpayers to places such as Virginia and North Carolina.

The group also argues that high taxes have been a major contributor to Maryland shedding jobs in the last several months, causing the state’s unemployment rate to rise from a January low of 6.5 percent to 7 percent.

The video, which has been viewed more than 400 times on YouTube, claims that business people see Maryland as “the land of opportunity.”

It goes on to laud the state’s top rankings in public education and entrepreneurship and says Maryland has the 12th lowest tax burden on new investment. It also cites statistics that indicate the number of millionaires in the state has increased 19 percent since 2007.

And many of the claims made by Change Maryland?

“Absolutely false,” the video asserts.

And that’s “The Truth About Maryland,” according to DBED.

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Gov. Martin O’Malley has quite the run going — he’s been booked on a national network’s Sunday news program four out of the last seven weeks.

This Sunday, O’Malley will be on ABC’s “This Week” at 9 a.m., where he’ll tangle with Louisiana Gov. Bobby Jindal over Friday’s less-than-stellar jobs report. Jindal is a potential running mate for presumptive Republican presidential nominee Mitt Romney.

O’Malley fired the first shot Friday, in a statement released through the Democratic Governors Association, which he chairs.

“Unfortunately, Tea Party Republicans in Congress continue to obstruct the president’s jobs bill — and the head of their party, Mitt Romney, continues to bet against the American worker, while suggesting that our vital public sector doesn’t need more teachers, firefighters and police officers on the job,” O’Malley said. “Our continued economic recovery demands that Republicans stop rooting for failure and trying to score cheap political points and instead work with Democrats to create jobs and move forward.”

O’Malley, a possible Democratic candidate for president in 2016, was in high demand last weekend, too, following the Supreme Court’s health care ruling. Maryland has been preparing for the Affordable Care Act since it was passed by Congress.

Last weekend, O’Malley was on CBS’ “Face the Nation” to defend the act. Before that, he took a two week break after a previous “Face the Nation” appearance on June 10.

The run of national television spots started May 27 on NBC’s “Meet the Press.” Before that, the governor hadn’t appeared on the Sunday stage since a March 11 “Meet the Press” appearance.

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State Treasurer Nancy K. Kopp (Photo: Maryland State Archives)

Climate change negatively affects supply chains — reducing productivity and causing a rise in production costs — and ought to be a serious concern among businesses in Maryland.

That was the message delivered by state Treasurer Nancy K. Kopp, who participated in a conference call detailing a report released by advocacy groups Ceres, Oxfam America and Bethesda-based business Calvert Investments. The companies commissioned a report that details the importance of businesses disclosing physical climate risks to investors.

As one of many examples, the report cites Baltimore-based Under Armour‘s expectation that its 2012 net revenues will “come in at the low-end of its long-term growth target.” The lesser growth rate is due to the sports apparel company selling less gear than expected during an unseasonably warm winter.

The report says the apparel, agriculture, food and beverage, tourism, oil and gas, electric power, mining and insurance sectors are all impacted by climate change.

Kopp said she was glad the report made clear “how vulnerable we are to the effects of global warning,” especially in Maryland, where farming is the state’s largest commercial industry.

The state is especially vulnerable to sea level rise, she said, which is also important when considering it in context of the the tourism industry.

“Tourism’s important to our economy,” Kopp said. “We rely … on the shoreline to bring people to the Atlantic shore and the [Chesapeake] Bay.”

Read the full report here.

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Harford County has won the “House of Cards” sweepstakes, landing the production of the political drama to be distributed by online streaming service Netflix.

County Executive David R. Craig announced the deal this week.

“This represents a tremendous opportunity for Harford County and will provide a noticeable boost to our economy,” Craig said in a written statement. “Between the number of jobs created, office and studio space leased, hotel rooms booked, and businesses utilized, this is yet another indication that industries of all types recognize that Harford County is a good place to do business.”

The statement said the county expects “House of Cards” to have a “major impact” on its economy.

“House of Cards” will star Academy Award-winning actor Kevin Spacey and its pilot will be directed by David Fincher, whose recent credits include “The Girl with the Dragon Tattoo” and “The Social Network.”

The Maryland Film Office estimates the series of 13 hour-long episodes will spur $75 million in spending in the state and create more than 2,000 jobs for local crew, actors and extras.

Filming is expected to take place in and around Baltimore, so those effects will likely be spread throughout the region.

“House of Cards” will be Harford’s first major film production since “Tuck Everlasting” in 2002.

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The Department of Business and Economic Development will foot the bill for at least a dozen state employees on the governor’s upcoming trade mission to India.

DBED covered expenses for five when Gov. Martin O’Malley made a trade mission to China, South Korea and Vietnam in June. The delegation for that trip was smaller, however — 68 business leaders, educators and public officials compared to the more than 100 on board for India. The India trip will be shorter, six days as opposed to 10.

On the upcoming trip, DBED will cover expenses, meals, hotel and incidentals for O’Malley, first lady and District Court Judge Katie O’Malley and two aides — Rick Abbruzzese and Sam Clark. DBED staff on the trip will include Secretary Christian Johansson, Assistant Secretary Bob Walker, Office of International Trade Director Signe Pringle and Judy Britz, executive director of the Maryland Biotechnology Center.

DBED will also pay for the state’s India representative, Sanjiv Khanna, to make the trip as well as some expenses that will eventually be reimbursed for three members of the Secretary of State’s office. They are Secretary John McDonough, Deputy Secretary Rajan Natarajan and Director of International Affairs Mendy Nitsch.

The department has not released a cost estimate. The state only released details from the Asia trip after O’Malley returned and the receipts were totaled.

DBED spokeswoman Karen Glenn Hood said the state could use a federal grant to cover part of the cost of the trip. The U.S. Small Business Administration gave the state $585,000 in September to help increase exports from small Maryland businesses.

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