The battle to solve Maryland’s $3 billion budget deficit has prompted a debate between the state’s two most recent leaders, who are pointing fingers and blaming each other for the fiscal crisis. On Wednesday,
If you make $500,000 or more, your taxes are going up, according to Governor Wes Moore's tax plan released Wednesday.
Moore said the brunt of the tax increases will be shouldered by Marylanders with a household income north of $700,000 a year. In 2023, more than 18% of Maryland households were estimated to earn $200,
Maryland’s wealthiest earners would pay more in state taxes, while corporations and other workers would get a tax cut under a budget plan Gov. Wes Moore will introduce Wednesday — marking the first time the Democrat has thrown his political weight behind policies that could directly impact most Marylanders’ pocketbooks.
As energy demands continue to grow, Maryland state leaders, along with energy officials, are working to find long term solutions.During presentations in Annapo
Maryland Gov. Wes Moore has included higher income tax rates for taxpayers who make more than $500,000 in his budget plan, as well as about $2 billion in budget cuts to address a $3 billion deficit.
For several weeks, Moore has telegraphed the upcoming budget cuts and ‘revenue’ increases to solve the state’s $3 billion deficit. He has blamed the deficit on the previous administration's ‘overspending’ while not growing Maryland’s job base and economy.
Maryland Gov. Wes Moore said that his proposal for the state’s budget will include $2 billion in cuts. He declined to specify which areas of the state’s roughly $63 billion budget
Without selling the tax increases that the governor unveiled in his $67 billion budget proposal on Wednesday, Moore faces making even deeper cuts to balance the state’s finances.
Moore has also pledged making $2 billion in cuts to help close a $3 billion budget gap, targeting some spending on climate initiatives and government inefficiency.
The importance of partnerships among local, state and federal leaders was highlighted Friday at the annual Mountain Maryland PACE breakfast in Annapolis. Roughly 300 people, including commissioners from Allegany and Garrett counties,