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.
Today, we are announcing the largest tax cut package in state history and delivering long-overdue relief for Maryland’s overtaxed retirees.
— Governor Larry Hogan (@GovLarryHogan) March 28, 2022
Read my full statement: pic.twitter.com/xPbArrp01i
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.