COLLEGE PARK, Md. — Governor Wes Moore announced new details on his tax plan for the 2026 fiscal year.
"We're going to introduce a new package that for two thirds of all Marylanders, they're about to get a tax cut," said Governor Moore to a group of reporters.
The plan will actually cut taxes for some while others are asked to pay more.
According to his estimate, the lowest 82% of earners will see cuts or no changes.
Looking at economic data for Maryland, people making roughly $175,000 or more a year will see higher tax bills, though we will find out the exact cut off Wednesday.
Moore didn't give an exact number on how much more they'll be asked to pay.
"We are asking those Marylanders who have done exceptionally well to pay a little bit more to make sure we're having the best public schools in America, making sure we're having safer neighborhoods and communities," said Moore.
The state is also investing in workforce development and small businesses, saying his administration plans to cut red tape to starting a business.
"Until we increase the pie, we're just simply talking about how are we cutting a continually smaller pie and we are never going to create the kind of economic growth that we need," said Moore.
In addition, Moore plans to cut the corporate tax rate and invest in private sector jobs the state already benefits from.
Moore's budget is due Wednesday, we'll learn about the full details in an 11:30 a.m. press conference.
