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Hogan Announces $1 Billion Tax Relief to Retirees

January 17th, 2020 by WCBC Radio

Governor Larry Hogan Thursday announced a more than $1 billion tax relief proposal to make it more affordable for retirees to stay in Maryland. The Retirement Tax Reduction Act of 2020 will cut retirement taxes for Marylanders by more than $1 billion over five years. This legislation will eliminate all state tax on the first $50,000 of income for retirees making up to $100,000 in federally adjusted gross income. Retirees with Maryland income up to $50,000 will pay no state tax whatsoever in the state of Maryland. Hogan says the cuts will gradually phased in

4 Responses to “Hogan Announces $1 Billion Tax Relief to Retirees”

  1. January 17, 2020 at 8:08 am, Bob said:

    This panders to retired government employees who spent decades with their snouts in the trough and can now avoid even a small payment into it.

    Reply

  2. January 17, 2020 at 8:15 am, Brian said:

    You may be partially right because I have heard the Democrats have countered what’s the idea of only giving this tax break to retirees with government pensions I don’t know if people are aware that you can move across the border to Pennsylvania and pay no state tax on your IRA or private pension or Social Security

    Reply

    • January 17, 2020 at 8:55 am, Jay said:

      There is no state tax on Social Security in Maryland.

      Reply

  3. January 17, 2020 at 8:29 am, mac said:

    Is this an election year?

    Reply

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