tax relief

Maryland Governor Proposes $4.6 Billion Tax Relief Package

larry hogan
NBC Washington

Maryland Gov. Larry Hogan proposed a major tax-relief package on Tuesday for the upcoming legislative session, but much of what the Republican is supporting has stalled in the General Assembly in recent years.

Hogan said it would deliver more than $4.6 billion in relief to Maryland families, small businesses and retirees.

About $4 billion of it would be phased in starting in tax year 2022 for retirees. The plan would eliminate state retirement taxes, but previous broad-based proposals by the governor to cut taxes for retirees have not advanced.

The governor's plan also would make permanent the enhanced earned income tax credit in last year's RELIEF Act of 2021. It increased the refundable tax credit to 100% for workers without a qualifying child and 45% for other workers, but the relief is currently temporary.

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This bill would provide working families with another $650 million in cumulative tax relief.

The proposal comes as Maryland has an enormous budget surplus this year because of federal pandemic relief.

Maryland’s 90-day legislative session begins Wednesday.

Copyright AP - Associated Press
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