Dear Marylanders,
Today I signed into law the largest tax cut package in state history—including the Retirement Tax Elimination Act—which will provide an additional $1.86 billion in long overdue tax relief for Maryland retirees, families, and small businesses.
Combined with the gas tax suspension we enacted just a few weeks ago, we are delivering nearly $2 billion in tax relief during this legislative session alone. This historic, bipartisan agreement brings the total tax, toll, and fee relief that our administration has delivered to nearly $4.7 billion.
When I was first running for governor eight years ago, I pledged that once we were able to solve the budget crisis, and turn our economy around, I wanted to eventually reach the point where we could finally do something about our state’s sky-high retirement taxes. It was the one area where we were still not competing effectively with other states.
When I was elected, we immediately got to work doing exactly what we said we would do. Our state is in a stronger fiscal position today than it has ever been before, and because of that, we are able to keep our commitment to Maryland’s retirees.
Many said this could never be done in Maryland—but together we did it.
With this historic agreement, we are providing real, long-term relief for Marylanders struggling with inflation and higher prices. We are helping to create more jobs and more opportunity in every corner of the state. And we are putting problem-solving ahead of partisanship, and compromise ahead of conflict to deliver real results for you.
Sincerely,
