ABC 7: For some Marylanders, taxes may soon be going up as state faces budget challenges

MONTGOMERY COUNTY, Md. (7News) — Maryland Governor Wes Moore on Tuesday is revealing more of his plan to close a $3 billion state budget deficit and it includes higher taxes for some.

In a guest commentary published Tuesday in the Baltimore Sun Moore said, “I will ask us Marylanders who have done exceptionally well financially to contribute a little more.”

Moore said the revenue would be used to make, “data driven investments in economic growth. The governor also claims that “Through reforms in the tax code, nearly two-thirds of Marylanders will get a tax cut, and we will lower the corporate tax rate.”

Moore has said he plans to cut $2 billion from the $3 billion deficit with cuts and government modernization and efficiency but so far has been reluctant to detail his plans to raise taxes. He will release his full budget on Wednesday.

The budget will then be subject to negotiations with the legislature where Democratic leaders have said they can’t cut their way out of the deficit and that taxes are on the table.

Republicans in the legislature have said they will oppose any tax hikes.