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Hogan, lawmakers, announce agreement on $1.86B in tax relief

today03/29/2022 2

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ANNAPOLIS, Md. (AP) — Maryland Gov. Larry Hogan and leaders in the legislature have reached a $1.86 billion agreement for tax relief over five years for retirees, small businesses and low-income families.

Officials announced Monday that when combined with a recently enacted gas tax suspension, the legislative session will deliver nearly $2 billion in tax relief. The Republican governor called the bipartisan deal “the largest tax cut package in state history with major and long-overdue relief for Maryland’s retirees.”

The tax relief agreement comes at a time when the state has billions of dollars in surplus that has resulted from enormous federal aid to address the COVID-19 pandemic.

 

Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.

 

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