Governor Hogan held a press conference to outline his plan to use Maryland’s historic $2.5 billion fiscal surplus to cut taxes even more for Marylanders.
Upon taking office, Maryland had a $5.1 billion deficit and its economy ranked 49th out of 50 states. Today, after seven years of tax cuts and fiscal discipline under Governor Hogan, Maryland’s economy ranks sixth in the country and has the largest budget surplus in state history.
While Washington continues to push for more spending and massive tax hikes, Governor Hogan’s plan would provide major tax relief for retirees and underserved Marylanders.
According to Governor Hogan, “Already some politicians see this as a chance to go on a big spending spree with pet projects, big payouts to special interests, and new mandated increases in spending. That is not going to happen on my watch.”