Post by Logan on Mar 18, 2016 15:28:51 GMT -6
The Maryland legislature has whittled down its list of tax-relief proposals, advancing measures this week that would provide relief for residents at all income levels and for corporations based primarily in the state.
The plans align with Gov. Larry Hogan’s goal of reducing the tax burden on Marylanders and with recent recommendations from a commission that legislative leaders created to develop proposals for improving the state’s economic climate.
Hogan (R) was elected in 2014 on a wave of anti-tax sentiment, after multiple increases in taxes and fees were put in place during the tenure of then-Gov. Martin O’Malley (D) in the wake of the 2008 recession.
The Senate Budget and Taxation Committee on Thursday approved bills that would reduce tax rates for high earners while increasing an exemption for middle-income families and expanding the Earned Income Tax Credit, a benefit for the working poor.
Read more: www.washingtonpost.com/local/md-politics/tax-relief-plans-advance-in-md-legislature/2016/03/18/72e89a44-ed19-11e5-a6f3-21ccdbc5f74e_story.html
The plans align with Gov. Larry Hogan’s goal of reducing the tax burden on Marylanders and with recent recommendations from a commission that legislative leaders created to develop proposals for improving the state’s economic climate.
Hogan (R) was elected in 2014 on a wave of anti-tax sentiment, after multiple increases in taxes and fees were put in place during the tenure of then-Gov. Martin O’Malley (D) in the wake of the 2008 recession.
The Senate Budget and Taxation Committee on Thursday approved bills that would reduce tax rates for high earners while increasing an exemption for middle-income families and expanding the Earned Income Tax Credit, a benefit for the working poor.
Read more: www.washingtonpost.com/local/md-politics/tax-relief-plans-advance-in-md-legislature/2016/03/18/72e89a44-ed19-11e5-a6f3-21ccdbc5f74e_story.html