Gov. Larry Hogan plans to submit a bill to the General Assembly in January that, if passed, he says will mitigate the worst effects of the tax overhaul measure that passed through Congress today.
At today’s Board of Public Works meeting, the governor opened things up with an announcement about his plan to deal with the effects of the tax reform bill that the Senate just approved.
While Hogan said the exact impact on the state hasn’t yet been determined, “one thing is clear – it’s that due to the loss of several longstanding federal tax deductions and exemptions that are tied to Maryland taxes, that Maryland state revenue is likely to increase by hundreds of millions of dollars.”
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