“Recovery Budget:” Governor Hogan Proposes Historic Tax Relief For Struggling Maryland Families, Small Businesses, Retirees, and First Responders
While the legislature is pushing for tax hikes, Governor Hogan is fighting to deliver historic tax relief for struggling Maryland families and small businesses.
Last week, Governor Hogan proposed the RELIEF Act – emergency legislation that will provide more than $1 billion in immediate and targeted tax relief for Maryland working families, small businesses, and those who have lost their jobs as a result of the COVID-19 pandemic.
Now, Governor Hogan has submitted a budget that provides even more tax cuts, recognizing that Maryland needs lasting relief to lay a strong foundation for the state’s long-term economic recovery. The budget calls for over $1 billion in tax cuts for all retirees, as well as tax exemptions for law enforcement, fire and rescue, corrections, and emergency response personnel, making it more affordable for Marylanders to stay and retire in the state.
Governor Hogan’s budget also achieves record investments in K-12 education and public health, increases funding for public health and crime prevention, and fully funds Chesapeake Bay restoration – all while remaining structurally balanced.
While announcing this proposal at a press conference earlier today, Governor Hogan continued to draw a red line on raising taxes during this unprecedented global pandemic. According to Governor Hogan, “The last thing that should ever be done in the middle of this pandemic would be to increase taxes on struggling families and small businesses. That would cause more suffering and it would short circuit Maryland’s economic recovery.” According to a recent poll, 93% of Marylanders oppose raising taxes.