image description

MD Senate Committee Approves Tax-Relief Plan

March 21st, 2016 by WCBC Radio

A Maryland Senate committee has approved a modest tax-relief plan.  The plan approved Thursday reduces Maryland's top four tax-rate brackets over five years. That affects single tax filers who make more than $100,000 and joint filers with income over $150,000. Ryan Bishop, an analyst with the state's Department of Legislative Services, says that would cut taxes between 1 and 3 percent in those brackets.  The plan also would expand the state's Earned Income Tax Credit, which is offered to low-income workers.  That same day,  the full Senate unanimously approved a budget nearly identical to the one Governor Larry Hogan approved in January. Senate Budget and Taxation Committee Chairman Ed Kasemeyer says that there were only minor cuts made to the governor’s budget…


Leave a Reply

View Mobile Site