Maryland state lawmakers are working on a $67 billion budget and considering tax increases and spending cuts to balance the books. With economic fallout from federal job cuts, lawmakers are exploring various options to raise revenue. Governor Wes Moore has proposed tax changes such as increasing income tax rates and adding fees on home deliveries. Other proposals include a business-to-business tax, legalizing online gambling, and the ‘Fair Share Maryland’ plan to raise taxes on high earners. A sugary drinks tax, sales tax changes, vehicle tax increases, and a firearm tax are also under consideration. Nonpartisan analysts have suggested options like increasing the state property tax, transfer tax on high-value properties, and taxing salty snacks. Lawmakers are facing challenges in deciding which measures to implement to address the state’s budget shortfall. With various proposals on the table, discussions are ongoing to determine the best course of action to ensure financial stability for Maryland.
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