Just the Facts
1
FACT: The Budget Cuts or Maintains Income Tax Rate for 94% of Marylanders
Under the budget agreement, 94% of Marylanders will either get a tax cut or see no change on their tax bill. The vast majority of new revenue would be paid for by the top 1% of Marylanders, who currently pay the smallest percentage of their income in taxes.
2
FACT: The Budget Includes the Largest Cuts in 16 Years
Governor Moore is showing leadership and making the hard decisions that previous Governors have avoided. Governor Moore's plan cuts $2 billion in spending and ensures responsible spending on our key priorities to support middle class families and helps Maryland's economy grow
3
FACT: The Budget Responds to a Structural Deficit Predicted Since 2017
The budget agreement turns the long-predicted $3 billion deficit into a surplus. Experts have warned about the structural deficit since 2017. Federal COVID-19 relief funds created a short-term surplus that gave Republican Larry Hogan an excuse to avoid working with the legislature and kick the can down the road.