A group of unions and progressive Maryland lawmakers have announced 10 bills that they say could raise $2 billion by 2030.
The goal is to generate revenues that would help cover the cost of recommendations outlined in the Kirwan Commission’s report on education.
The legislation being proposed by the “Maryland Fair Funding Coalition” would:
- Require combined reporting for multistate corporations that do business in Maryland.
- Apply a 1% surtax on capital gains income.
- Restructure state income tax brackets and tax rates.
- Cut tax credit programs “with no track record of success” — i.e., that don’t have a demonstrated record of benefiting Maryland’s economy.
Maryland Del. Julie Palakovich Carr (D-Montgomery County) said funding the Kirwan plan and improving Maryland’s education system is a personal issue. Her son will enter kindergarten next year, “and I truly believe that my son and his classmates and every student in Maryland deserves a world-class education.”
Fully funding education in the state is “more than a moral imperative,” she said.
“This is also about the future of our economy,” Palakovich Carr added, “because one of the biggest factors that businesses are looking at when they’re deciding where to establish their business, where to grow their business, is having a well-qualified workforce.”
Del. Stephanie Smith, D-Baltimore City, said legislation introduces equity into the state’s tax system. “We’re all here today to get the dollars right,” Smith said.
Republican Gov. Larry Hogan has been critical of cost of the Kirwan Commission plan, saying he would oppose tax increases to fund the recommendations.
Get breaking news and daily headlines delivered to your email inbox by signing up here.
© 2020 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.