**FILE** Gov. Wes Moore is proposing to increase state revenue without negatively affecting most Marylanders. (WI photo)
**FILE** Gov. Wes Moore is proposing to increase state revenue without negatively affecting most Marylanders. (WI photo)

Gov. Moore Introduces Budget, Plans to Increase Taxes on Maryland’s Wealthiest

In an effort to alleviate Maryland’s estimated $3 billion budget shortfall and pass a balanced budget this year, Gov. Wes Moore (D) unveiled a budget on Jan. 15 with several proposals to increase state revenue without negatively impacting most Marylanders. 

Moore has described the current fiscal situation as “worse than the Great Recession.”

He has also said that taxing or cutting spending alone to resolve the situation would not be a solution. Economic growth and targeted investments from the state are his ideas to improve the state’s long-term fiscal health.

His proposal would create two new tax brackets for Maryland’s highest earners, with a new 6.25% tax rate for people who make more than $500,000 and a 6.5% rate for taxpayers who make more than $1 million. He also proposes closing a corporate tax loophole that allows multi-state corporations to avoid paying taxes in Maryland. 

According to the governor, 82% of Marylanders would see a tax cut or no tax increases under his plan. 

State Sen. Guy Guzzone (D-District 13) said that the governor “did a pretty good job” of looking into ways to improve the state’s financial health.

Moore’s tax plan would also increase the state’s tax on table games at Maryland casinos from 20% to 25%, double Maryland’s tax on sports betting from 15% to 30%, and increase the tax on recreational cannabis from 9% to 15%. 

These changes would be effective in July 2026, if passed.

“The governor’s FY 2026 budget proposal reduces the structural deficit by $2.25 billion for FY 2026, maintains a Rainy Day Fund balance of 8.0%, and flips the projected cash shortfall of $2.95 billion to a positive cash ending balance,” according to a press release from the governor’s office.

Further, the statement explains some of the target goals for the proposed budget.

“The proposal directs state resources toward investing in commercial hubs and industries of the future, maintaining record funding for local law enforcement and public safety, and making education, housing, health care, and child care more affordable for Marylanders.”

Longtime lobbyist Darrell Carrington told The Informer that since it is an odd-numbered year, the next step in the budget process will be reviewed in the House’s Appropriations and Ways and Means Committees.

“The Moore-Miller Administration released its budget today, as required by the Maryland State Constitution. The release has prompted significant discussion, with many Members expressing concern about where additional cuts might be made to address the structural budget deficit,” said Carrington in an email. 

“We will continue to monitor developments as the House Appropriations and Ways & Means Committees begin their review of the Administration’s budget with recommendations.”

County Executive Race’s Campaign Donations List Publicized

With the General Assembly returning to session, most politicians in Maryland are now unable to solicit campaign donations to prevent conflicts of interest. 

The filing deadline for campaign donations was Jan. 15, and state Sen. Alonzo Washington (D-District 22) remains one of the only state Delegates who is able to solicit funds for his campaign for Prince George’s County Executive. State Senator Washington reported $78,693.13 on hand and raised $51,288.85 over the past year.

State’s Attorney Aisha Braveboy led the pack with a reported $530,299.41 on hand, and she raised $409,026.35 over the past year. County Council Chair Jolene Ivey (D- At Large) reported $429,921.89 on hand and raised $333,905.00, although her fundraising totals are only from November through early January as her campaign was required to disclose contributors during the special election to replace former Councilmember Mel Franklin.

County Councilmember Calvin Hawkins (D- At Large) reported $237,585 on hand and raised $333,905.00 during the reporting period. In his January newsletter, Councilmember Hawkins cited three bills of the past year that passed with his sponsorship: a rent stabilization act, a bill to enforce vehicle noise limits, and a bill to ban ghost guns.

Former County Executive Rushern Baker, who previously ran for governor in both 2018 and 2022, announced $107,528.18 on hand and raised $120,487.06. During the recent snowstorm that left communities around the county trapped in their homes and with ice in their cul-de-sacs, Baker took to X to decry the failures of County leadership.

“Residents of Prince George’s County, we deserve better. When snow blankets our community, it should not paralyze our daily lives or compromise our safety,” he said on Jan. 10.“Yet, this week’s snowstorm has highlighted unacceptable shortcomings in the county’s response—leaving roads unplowed, sidewalks impassable, and students unable to attend school. These failures are not due to a lack of resources.”

As a former county executive, Baker explained how he felt the difficulties manifested.

“Transportation budgets have grown, and strategies for proactive snow removal exist on paper. But what we’ve witnessed is a breakdown in execution, with some neighborhoods facing disproportionate impacts and delays. Leadership means action. As your next county executive, I will take immediate steps to restore trust and deliver results.”

A forum for all County Executive candidates, regardless of partisan affiliation, has been announced for Jan. 30 at the Laurel Boys and Girls Club on Montgomery Street from 6:30 to 8:30 pm. Former board of Education member Dr. Alvin Thornton, the Rev. Lesyle Dwight of the Community of Hope AME Church, Kevin Leonard of the Laurel History Boys, and Kayla Mock, UFCW Local 400 political director, will serve as the moderators. Another forum, which will be available virtually, will be held at 5:30 pm on Feb. 5 by the South County Democratic Club, with media personality Marc Clarke serving as the moderator.

Richard is a contributing writer with the Washington Informer, focusing on Prince George’s county’s political and business updates alongside sports. He graduated from the University of Maryland, Baltimore...

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1 Comment

  1. I have a novel idea I know this is crazy sounding but how about we just cut the budget how about we just stop the spending how about we do what we do in our houses cut our expenditures. I’m sorry you’re not looking for getting votes from your state employees because you’re going to have to fire some of them but it has to be done with the fifth highest tax state in the country.

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