Maryland lawmakers have passed a $67 billion budget to address a $3.3 billion deficit, including $1.6 billion in tax and fee increases. The budget includes new tax brackets for high-income residents, a piggyback tax, and tax hikes on information technology services, capital gains, recreational cannabis, and sports wagering. Governor Wes Moore expressed satisfaction with the budget despite not including his desired corporate tax cut.
Republican leaders criticized the budget for being the largest tax hike in Maryland’s history, emphasizing the burden it places on working families, small businesses, and retirees. They argued for responsible alternatives, suggesting cuts to balance the budget without raising taxes.
The legislative session also saw the passing of various bills, including energy independence legislation, prescription drug affordability measures, abortion funding, health care for young adults, and initiatives on sentencing second looks, expunging criminal records, slavery reparations, and sexual abuse lawsuits. Lawmakers worked until the last day of the session to address these issues, highlighting their commitment to protecting various priorities, such as education funding and community safety.
The budget and legislation passed reflect a complex interplay of fiscal responsibility, social programs, and tax policy adjustments, sparking debate and discussion among political parties and stakeholders. Governor Moore and legislative leaders will continue to work to address the state’s financial challenges and ensure the well-being of Maryland residents.
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