Hogan: Put surplus into Rainy Day Fund, tax relief

today10/08/2021 4

share close

ANNAPOLIS, Md. (AP) — Maryland’s governor wants to put away much of the state’s record $2.5 billion surplus and spend the rest on tax relief and helping Marylanders in need.

Gov. Larry Hogan announced Thursday that he wants to boost the Rainy Day Fund to at least 7.5%, or $1.67 billion. Hogan also proposed tax relief for retirees and other Marylanders and more relief for people “struggling to make ends meet.” As Maryland prepares for collective bargaining with public employees, Hogan said he has directed the Department of Budget and Management to explore how to best use some funds to benefit state employees.

The surplus announced last week was attributed to larger-than-expected revenue growth from stimulus funding and better-than-expected results for tax year 2020.


Source: AP – All contents copyright 2021 Associated Press.  All rights reserved.

Written by: Editor

Rate it

Previous post


Maryland board OKs added $421K for wrongly imprisoned man

ANNAPOLIS, Md. (AP) — A Maryland has board approved more than $421,000 in supplemental compensation for the first person in the United States who was sentenced to death and later freed from prison because of DNA evidence. The Board of Public Works also approved $31,343 on Wednesday in attorneys fees in the case. Kirk Bloodsworth was sentenced to death and spent nearly nine years in prison for a Baltimore County […]

today10/07/2021 5