Gov Hogan Proposes $400 Million Tax Decrese

By: Daniela Young | January 12, 2016 (Edited July 7, 2017)

Maryland Governor Larry Hogan (R) says he has a proposal that may benefit retirees and low income families who suffered during the 8 year O'Malley run.

larry_hogan_ap_img-1440x756

Hogan's proposal is scheduled to be announced during a news conference held at 2 p.m., where he hopes to gain some democratic support by applying the relief to retirees, families making less than $53,000, and to the smallest of Maryland's businesses.

Overheard behind closed doors at the state Senate building, Hogan told lawmakers, "We are going to be focused on people they hurt the most with 83 O'Malley tax increases."

Martin O'Malley (D) implemented a series of tax and fee increases which spanned the national economic downturn beginning in 2008, according to several voters and legislative seat holders.

The proposal would grant $400 million in tax relief over the next five years, which will benefit approximately 1 million Maryland residents, and 300,000 small businesses.

Democrats hold strong majorities in both chambers of legislation, and the proposal must be first be approved before the rollback of tax hikes and fee increases is implemented.

Senate Minority Leader J.B. Jennings (R) said he welcomes the pace and focus of Hogan's proposal, according to a Washington Post article.

"We have to be patient in doing this. It took eight years to raise all these taxes, it will take several to lower them all," Jennings said. "This shows Governor Hogan is starting to reverse them, turn them back. And he's doing it with a balanced budget."

Sole Republican in Maryland's Congressional delegation, Andy Harris, said taxes are the one thing that needs firm structure.

"The response from Democrats, the knee-jerk response to a surplus, is, 'Oh, we can spend more,'" Harris said. "Instead, we can return it to the taxpayer and that's incredibly powerful."

tag
tag
tag
tag

Top of Page keyboard_arrow_right

author image

Written by Daniela Young

Our goal, here at Best Company, is to provide you with honest, reliable information you need to find companies you can trust.

Compare the top ranked companies

Find the right company for you.