March 24th, 2025 by WCBC Radio

Maryland’s Democratic leadership unveiled a revised spending plan with changes in taxes from Governor Moore’s original plan. Instead of doubling the standard tax deduction, a modest increase of 20% is proposed. A new 2% surcharge on capital gains income over $350,000 would generate $367 million. Senate President Bill Ferguson said that money would be used in two ways…

   

“Use the capital gains particularly for important investments in our transportation systems as well as to help our structural balance. What we do know is that the Trump tax cuts that are focused on billionaires is likely to help those who have done the best.”