As the General Assembly session moves into its final two weeks, the House and Senate must hash out the differences in their spending plans. The Senate, who approved its $63.1 billion version of the budget two weeks ago, used larger than expected capital gains taxes to offset the recent revenue write down, covered a $236 [...]
The Senate Budget and Taxation Committee completed its work on a $63.1 billion budget last Friday approving budget decisions of its subcommittees and those before the full committee. Debate on the spending plan will begin tomorrow to be finalized this week and sent over to the House Appropriations Committee for consideration. The spending plan makes [...]
To relieve budget pressures and address structural shortfalls that are projected to grow to approximately $3 billion by fiscal year 2029, legislators have introduced SB 766 (HB 1007) to implement combined reporting for corporations doing business in Maryland. Other tax revenue generating changes in the bill include - raising taxes on people whose income is [...]
On Thursday the Board of Revenue Estimates revised its fiscal 2024 and 2025 estimates to reflect a $120 million and $134.9 million negative change in estimated tax revenues. Slowing withholding collections is the cause of reductions in the personal income tax forecast. Additionally, fiscal 2024 sales tax estimates were revised down by $34.7 million. There [...]
Governor Moore recently announced the Moore-Miller Administration's 2024 Maryland General Assembly’s legislative agenda. This 16-bill package focuses on making Maryland safer, more affordable, more competitive, and making Maryland the state that serves. The Moore-Miller Administration included three bills focusing specifically on Public Safety. The Victim Compensation Reform Act, SB 471, would provide quicker access to [...]
Amid large state fiscal challenges, progressive groups and lawmakers are hoping to pass a variety of tax reforms. Once fully phased in, the yet-to-be introduced bill would raise $1.6 billion for the state general fund annually which could potentially offset the large projected budget deficits. Additionally, this increased tax revenue could pay for tax credits [...]
This past Wednesday, Attorney General Brown announced his 2024 legislative agenda focusing on increased access to quality affordable healthcare. He stressed the importance of increased fairness within the sector and aims to hold wrongdoers accountable for harm they cause to Marylanders. “Our legislative agenda is focused on protecting the health, safety, and well-being of Marylanders,” [...]
The Maryland Department of Transportation announced Jonathon Daniels as the new executive director of the Maryland Port Administration. Daniels will be taking over for Brian Miller who served as interim executive director after the resignation of William P. Doyle last June. Jonathon Daniels has an abundance of experience in port and economic development. Most recently, [...]
Governor Wes Moore announced this week the Moore-Miller administration’s 2024 legislative session public safety agenda. The administration is offering bills that will reform the state's victim compensation program, address recruitment and retention of police officers, and create a gun violence prevention and intervention office at the Maryland Department of Health. The Moore-Miller Administration’s 2024 public [...]
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