BALTIMORE, MD (WEAA) —On Monday, Governor Larry Hogan signed the RELIEF Act of 2021into law.
The emergency legislation will immediately provide more than $1 billion in tax relief and economic stimulus to Marylanders in need.
I was incredibly proud to join a bipartisan group of legislators to sign the RELIEF Act of 2021 into law. With people hurting right now, this emergency legislation provides more than $1B in urgently needed tax relief and economic stimulus for Maryland families & small businesses. pic.twitter.com/wbxyLppP2P
— Governor Larry Hogan (@GovLarryHogan) February 15, 2021
Governor Hogan says, "The RELIEF Act offers a real lifeline to those hardest hit, people who are struggling to get by and small businesses desperately trying to stay afloat".
Direct relief checks will immediately go out to hundreds of thousands of families.
The law provides $500 for low- income families and $300 for individuals who filed for the Earned Income Tax Credit.
Marylanders who qualify for direct payments annually earn:
- $50,954 ($56,844 married filing jointly) with three or more qualifying children
- $47,440 ($53,330 married filing jointly) with two qualifying children
- $41,756 ($47,646 married filing jointly) with one qualifying child
- $15,820 ($21,710 married filing jointly) with no qualifying children
"As a result of the legislation, people who have lost their jobs will not to have pay any state or local income taxes on their unemployment benefits", the governor said.
The legislation also authorizes immediate sales tax credits and unemployment tax relieffor small businesses.
https://www.youtube.com/watch?v=jP1_CBdaTUE
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