@BryanRenbaum
Several of Maryland’s most progressive lawmakers introduced a series of revenue bills on Friday that they say would provide the state an estimated $1.4 billion annually and make its tax system more equitable.
Many of the bills have been introduced in previous legislative sessions. The proposals include: a 1% surtax on income from capital gains, elimination of “pass-through” tax loopholes used by many businesses, lowering the threshold for when the estate tax kicks in, requiring multi-state corporations to pay more in Maryland taxes, and a fundamental restructuring of income tax brackets and rates.
“Maryland right now has an upside down tax code. The wealthiest 1% of Marylanders pay a smaller share of their income in taxes than anyone else. And that’s just really unfair to the rest of us 99%,” Del. Julie Palakovich Carr (D-Montgomery) said in an online news conference sponsored by the Maryland Fair Funding Coalition.