It was no April Fool’s joke: Maryland Republicans and Democrats sat down together Friday to sign nearly $2 billion in tax breaks into law.
Gov. Larry Hogan, Senate President Bill Ferguson and House Speaker Adrienne Jones gathered in the Maryland State House for the historic bill signing ceremony.
“Many said it could never be done in Maryland. But together we did it,” Hogan said in Annapolis. “I want to sincerely thank the legislative leaders on both sides of the aisle and in both houses for coming together to help more Marylanders keep more of their own money in their own pockets.”
The governor has long complained that Maryland’s tax policies pushed retirees out of the state, and this year he succeeded in passing the Retirement Tax Elimination Act.
It will give tax breaks to residents aged 65 and older making up to $100,000 in retirement income. Married retiree couples making up to $150,000 would also get tax relief under the law.
“We’re talking about nearly 1 million Marylanders — 982,000 people specifically — who will receive well-earned tax relief,” Sen. Bill Ferguson commented.
The effort to ease the tax burden on Marylanders isn’t limited to retirees.
“We know that there are still families and individuals who are still struggling to put food on the table and afford basic necessities,” House Speaker Adrienne Jones said.
That’s where the $115.6 million sales tax exemptions on items ranging from diapers, car seats and baby bottles to dental hygiene products and medical devices comes in.