Amid skyrocketing inflation across the country, Governor Hogan signed into law a nearly $2 billion tax cut on retirees, working families, and small businesses – the largest tax cut in Maryland history. Earlier this month, Governor Hogan was also the first governor in America to suspend the gas tax.
This is the eighth consecutive year that Governor Hogan has cut taxes, fees, and tolls on Marylanders and the second year in a row that Governor Hogan has secured the largest tax cut in state history. Governor Hogan is the only Republican governor in America to secure this level of tax cuts from an overwhelmingly progressive Democratic legislature. Partially as a result of this reduced tax burden, Maryland has gone from 49th in economic performance to number 6 under Governor Hogan – the greatest turnaround in America.
The historic Maryland Retirement Tax Elimination Act of 2022 – in particular – was a key campaign promise from Governor Hogan during his 2014 and 2018 campaigns, which was initially met with years of resistance in the legislature. Governor Hogan’s ability to work across party lines to deliver on his campaign promises and the priorities of the people of his state explains, in part, why he remains the most popular governor in America who continues to set an example for the rest of the nation on how to lead.
Watch Governor Hogan sign the largest tax cut in Maryland history here.