January 15, 2025
Coalition leaders assert that more money can be raised to offset deep cuts to programs and services; impact on Maryland working families
ANNAPOLIS – The Fair Share Maryland coalition is pleased that several of the elements of the Fair Share Maryland Plan are included in Gov. Wes Moore’s FY 2026 proposed budget, including closing corporate tax loopholes and the addition of new upper income tax brackets for the state’s highest earners. These are common-sense measures that will raise considerable and durable income for the state. Additionally, the proposed budget’s doubling of the standard deduction for personal income tax will deliver tax relief to Maryland’s working families. Along with its investment in the Comptroller’s office and the capital gains surcharge applying to higher earners, this proposed budget raises nearly $1 billion in revenue without placing additional burdens on the state’s working families. It represents a significant downpayment to address the state’s deficits but the Governor and the Maryland General Assembly need to do more to offset the proposed damaging cuts to critical programs and services.
Read the full Fair Share Maryland Coalition Press Release in response to the Governor’s Budget