Annapolis, MD—During his State of the State address today, Governor Larry Hogan proposed an irresponsible tax cut for the state of Maryland. Hogan's proposal is ill-conceived because it reduces revenue for our state and counties during a time when we should be focused on how to best fund Kirwan Commission reforms and other important priorities.
Here are the facts: next year, Maryland will have a billion-dollar structural deficit before the implementation of the Kirwin Commission recommendations to shore up public school funding. Additionally, another $100-$200M a year will be needed to keep healthcare insurance affordable for those in the individual market. In light of these funding considerations, with the additional warnings of a coming recession from many economic experts, Larry Hogan’s tax cuts are incredibly irresponsible.
In response to Hogan’s tax cut announcement, Maryland Democratic Party Chair Dr. Maya Rockeymoore Cummings released the following statement:
“Today Governor Hogan showed that he is an old-fashioned Republican, unwilling to learn from the failed trickle down economic policies of yesterday while thumbing his nose at education reform and other critical state priorities. We shouldn’t be surprised that he proposes a tax-cut that panders to the GOP’s special-interest base, yet comes up far short on offering solutions for working Marylanders. The truth is, this tax-cut will harm our efforts to strengthen public schools and provide affordable health insurance, both initiatives that are crucial for strengthening Maryland’s middle class.”