ICYMI: Governor Hogan, Legislative Leaders Reach Historic Bipartisan Tax Relief Agreement

Retiree Tax Cuts

Baltimore Sun: “The governor billed Monday’s election year agreement as a bipartisan deal to deliver ‘the largest tax cut package in state history’ and the fulfillment of a seven-year effort to score ‘long-overdue relief for Maryland retirees.’” (Bryn Stole, “Gov. Hogan, Democratic lawmakers strike $1.9B deal cutting certain income, sales and business taxes,” Baltimore Sun, 3/28/22)

Associated Press: “When combined with a recently enacted gas tax suspension, the governor’s office said this legislative session will deliver nearly $2 billion in tax relief.” (Brian Witte, “Hogan, lawmakers, announce agreement on $1.86B in tax relief,” Associated Press, 3/28/22)

Washington Post: “Maryland seniors would see up to a $1,750 tax cut next year under a deal state leaders announced Monday over how to spend much of a historic surplus.” (Erin Cox, “Gov. Larry Hogan and Md. legislative leaders reach deal to cut seniors’ taxes,” Washington Post, 3/28/22)

WMAR: “Under the new agreement, retired residents 65 and older making up to $100,000 in retirement income would qualify for tax relief.” (Ryan Dickstein, “Maryland leaders agree to cut income taxes for retirees,” WMAR, 3/28/22)

WMDT: “State officials have reached a historic bipartisan agreement to provide $1.86 billion in tax relief over five years for Maryland retirees, small businesses, and low-income families.” (Sarah Ash, “Md. state officials announce bipartisan tax relief agreement,” WMDT, 3/28/22)

WBAL: “Combined with the recently-enacted gas tax suspension, this legislative session will deliver almost $2 billion in tax relief, according to the governor’s office.” (Staff, “Maryland leaders reach agreement over tax relief for retirees, small businesses, low-income families,” WBAL, 3/28/22)

Maryland Matters:The tax benefit would be limited to retirees 65 and older who make less than $100,000 in retirement income, or couples earning less than $150,000 in retirement income. According to the announcement from Hogan’s office, as a result of the deal, 80% of Maryland’s retirees would receive substantial tax relief.” (Danielle Gaines, “Hogan and Legislative Leaders Announce Agreement on Tax Relief, 2023 Spending,” Maryland Matters, 3/29/22)

The Center Square: “Maryland residents stand to save $2 billion under a new tax relief agreement, Gov. Larry Hogan announced.” (Brent Addleman, “Hogan, Maryland legislative leaders announce long-term tax savings for residents,” The Center Square, 3/28/22)